of the amounts required to carry out this section in that fiscal year. . 3 Reducing overclassification 721. Classification and declassification of information (a) In general Title VIII of the National Security Act of 1947, as amended by chapter 2 of this subtitle, is further amended by adding at the end the following: D Classification and declassification 821. Classification and declassification of information (a) In general The President may, in accordance with this title, protect from unauthorized disclosure any information owned by, produced by or for, or under the control of the executive branch when there is a demonstrable need to do so in order to protect the national security of the United States. (b) Establishment of standards and procedures for classification and declassification (1) Governmentwide procedures (A) Classification The President shall, to the extent necessary, establish categories of information that may be classified and procedures for classifying information under subsection (a). (B) Declassification At the same time the President establishes categories and procedures under subparagraph (A), the President shall establish procedures for declassifying information that was previously classified. (C) Minimum requirements The procedures established pursuant to subparagraphs (A) and (B) shall— (i) permit the classification of information only in cases in which the information meets the standard set forth in subsection (c) and require the declassification of information that does not meet such standard