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Establishes policies and guidance, assigns, organizational responsibilities, and guides the administration of the Economic Adjustment Program to minimize economic impacts on communities resulting from changes in Defense programs.

U.S. Code 2391 explains the origin and appropriate use for Reuse Plans, as well as outlining the circumstances that make State and Local Governments eligible to receive adjustment and diversification assistance. Section 2391(a) Reuse Studies: Under this provision, OEA may commission a reuse study of all or part of a closing installation in support of the affected military department, the Federal Agency, or the State or local government. Section 2391(b)(1) Adjustment and Diversification Assistance: Under this provision, DoD funding may be provided to assist the State and local governments in planning and carrying out a community adjustment and economic diversification program.

Outlines the mission, responsibilities, functions, relationships, and authorities of the Office of Economic Adjustment (OEA). Assigns OEA responsibility for carrying out the authorities under 10 U.S.C. §2391 and for designing, establishing, and managing a Defense Economic Adjustment Program to achieve the objectives and implement the provisions of E.O. 12788 and DoD Directive 5410.12.

Protecting American Taxpayers From Government Spending on Wasteful Earmarks

 House Armed Services Committee — Subcommittee on Readiness COMMITTEE TESTIMONY March 18, 2010   Military Construction, Housing, Base Closure, Facilities Operation   Committee Holding Hearing:   Readiness Subcommittee (Chairman Ortiz, D-Texas) of House Armed Services Committee held a hearing on the fiscal 2011 budget request for military construction, family housing, base closure, facilities operation and maintenance.

Establishes the Economic Adjustment Committee to coordinate Federal interagency and intergovernmental adjustment assistance. This document is a 2005 update to the Defense Economic Adjustment, Diversification, Conversion, and Stabilization Act of 1990. Major revisions include modifying section 2.