110 STAT. 1426 PUBLIC LAW 104-164—JULY 21, 1996 excess defense articles valued (in terms of original acquisition cost) at $7,000,000 or more, under this section or under the Arms Export Control Act (22 U.S.C. 2751 et seq.) until 30 days after the date on which the President has provided notice of the proposed transfer to the congressional committees specified in section 634A(a) in accordance with procedures applicable to reprogramming notifications under that section. "(2) CONTENTS.— Such notification shall include— "(A) a statement outlining the purposes for which the article is being provided to the country, including whether such girticle has been previously provided to such country; "(B) an assessment of the impact of the transfer on the military readiness of the United States; "(C) an assessment of the impact of the transfer on the national technology and industrial base and, particularly, the impact on opportunities of entities in the national technology and industrial base to sell new or used equipment to the countries to which such articles are to be transferred; and "(D) a statement describing the current value of such article and the value of such article at acquisition. " (g) AGGREGATE ANNUAL LIMITATION.— "(1) IN GENERAL.—The aggregate value of excess defense articles transferred to countries under this section in any fiscal year may not exceed $350,000,000. "(2) EFFECTIVE DATE.— The limitation contained in paragraph (1) shall apply only with respect to fiscal years beginning after fiscal year 1996. "(h) CONGRESSIONAL PRESENTATION DOCUMENTS. —Documents described in subsection (a) justifying the transfer of excess defense articles shall include an explanation of the general purposes of providing excess defense articles as well as a table which provides an aggregate annual total of transfers of excess defense articles in the preceding year by country in terms of offers and actual deliveries and in terms of acquisition cost and current value. Such table shall indicate whether such excess defense articles were provided on a grant or sale basis. "(i) EXCESS COAST GUARD PROPERTY. —For purposes of this section, the term 'excess defense articles' shall be deemed to include excess property of the Coast Guard, and the term 'Depeirtment of Defense' shall be deemed, with respect to such excess property, to include the Coast Guard.". (b) CONFORMING AMENDMENTS.— (1) ARMS EXPORT CONTROL ACT. —Section 21(k) of the Arms Export Control Act (22 U.S.C. 2761(k)) is amended by striking "the President shall" and all that follows and inserting the President. following: "the President shall determine that the sale of such articles will not have an adverse impact on the national technology and industrial base and, particularly, will not reduce the opportunities of entities in the national technology and industrial base to sell new or used equipment to the countries to which such articles are transferred.". (2) REPEALS. —The following provisions of law are hereby repealed: (A) Section 502A of the Foreign Assistance Act of 1961 (22 U.S.C. 2303).
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