An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Defense Production Act of 1950 (DPA)

A law allowing the President to direct private companies to prioritize orders for goods and services deemed necessary for national defense, as well as to provide financial assistance for expanding industrial capacity.

Covered entity

A business or organization in which certain government officials or their close family members directly or indirectly hold a 'significant interest'.

Covered individual

The President, Vice President, a member of the Defense Production Act Committee, or their spouse, child, son-in-law, or daughter-in-law.

Significant interest

Owning, controlling, or holding at least 20% of the voting power or value of any type of ownership share in a company.

Equity interest

A form of ownership in a company, such as a share of stock, a capital or profit interest in a partnership, or rights to purchase such interests.

Defense Production Act Committee

A committee established under the DPA responsible for overseeing and coordinating actions under the Act.

Title III assistance

Financial help provided under the Defense Production Act, typically to expand domestic production capabilities for critical goods and services.