Report on the feasibility and advisability of establishing a strategic partnership on defense industrial priorities between the United States and Israel

(a) In general Not later March 30, 2027, the Secretary of Defense shall submit to the Committees on Armed Services of the Senate and the House of Representatives a report with a plan for the establishment of a partnership between the Department of Defense and appropriate counterparts of the Government of Israel in order— (1) to enhance market opportunities for United States-based and Israeli-based defense technology companies; (2) to increase interoperability through dual-use and emerging technologies; (3) to counter adversarial development of dual-use defense technologies; and (4) in coordination with appropriate counterpart offices of the Israeli Ministry of Defense— (A) to enable coordination on defense industrial priorities and set tangible goals for industrial base participation by both nations; (B) to highlight partnering opportunities for programs in both nations, and to help navigate country-specific acquisition regulations for partners unfamiliar with the regulatory environment of the other; (C) to streamline emerging defense technology research and development; (D) to create more effective pathways to market for defense technology startups that allow increased participation in industrial partners from each nation in the industrial bases of the other; (E) to collaborate on the development of dual-use defense capabilities through coordination; and (F) to leverage other private capital, equity on venture funding opportunities to augment government funds for technology deployment or scaling; (5) to create programs that incentivize defense technology companies from both nations to address defense priorities outside of the Middle East; and (6) to explore innovative mentor-protégé arrangements that partner companies from each nation to help navigate the acquisition regulatory environment of each nation. (b) Feasibility assessment The report required under subsection (a) shall include an assessment of the feasibility of implementing the plan. (c) Briefing Not later than 30 days after the submission of the report required under subsection (a), the Secretary of Defense shall brief the Committees on Armed Services of the Senate and the House of Representatives on the report’s recommendations on feasibility of a partnership on defense industrial base priorities.