War Reserve Stock Program for Taiwan

(a) In general Notwithstanding section 514 of the Foreign Assistance Act of 1961 (22 U.S.C. 2321h), the President may transfer to Taiwan any or all of the items described in subsection (b). (b) Items described The items referred to in subsection (a) are humanitarian and medical supplies, armor, artillery, automatic weapons ammunition, missiles, and other munitions that— (1) are obsolete or surplus items; (2) are in the inventory of the Department of Defense; (3) are intended for use as reserve stocks for Taiwan; and (4) are located in a stockpile in Taiwan. (c) Congressional notification Not later than 30 days before making a transfer under the authority of this section, the President shall transmit a notification of the proposed transfer to the Committee on Foreign Relations and the Committee on Armed Services of the Senate and the Committee on Foreign Affairs and the Committee on Armed Services of the House of Representatives. The notification shall identify the items to be transferred and the concessions to be received. (d) Report (1) In general Not later than one year after the date of the enactment of this Act, and annually thereafter, the Secretary of State shall submit a report to the appropriate committees of Congress summarizing items included in each transfer under this section, the concessions received, and timelines for delivery. (2) Submission of subsequent reports After the submission of the initial report under this subsection, the Secretary of State may combine the submission of the subsequent reports with the reporting requirements under the Taiwan Enhanced Resilience Act (22 U.S.C. 3351 et seq.), as appropriate.