The Intergovernmental Critical Minerals Task Force Act aims to significantly reduce the United States' reliance on the People's Republic of China and other designated "covered countries" for critical minerals and rare earth metals. This legislation recognizes that current supply chain dependencies pose substantial national security risks, as these minerals are vital for transportation, technology, renewable energy, and military equipment. The bill highlights that the U.S. is highly import-reliant for many critical minerals, with China being a dominant producer. To address these concerns, the Act establishes an Intergovernmental Critical Minerals Task Force within the Executive Office of the President. This Task Force is charged with assessing U.S. reliance on covered countries, recommending strategies to secure domestic critical mineral supply chains, and facilitating cooperation across federal, state, local, and Tribal governments. Its duties include identifying ways to increase environmentally responsible domestic mining, processing, and recycling, as well as strengthening the domestic workforce. The Task Force will also recommend modifications to existing statutes and policies to accelerate critical mineral production and identify alternative domestic sources to reduce foreign dependency. It will prioritize recommendations based on economic costs and national security vulnerabilities, while also developing strategies to strengthen international partnerships with allies. The bill mandates regular reporting to Congress on the Task Force's progress and findings, with a comprehensive report due within two years of enactment.