[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 2255 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 2255

 To amend the Foreign Assistance Act of 1961 to clarify the meaning of 
the term ``aggregate value'' for purposes of the Presidential drawdown 
                               authority.


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                   IN THE SENATE OF THE UNITED STATES

                             July 12, 2023

 Mr. Vance (for himself and Mr. Hawley) introduced the following bill; 
which was read twice and referred to the Committee on Foreign Relations

_______________________________________________________________________

                                 A BILL


 
 To amend the Foreign Assistance Act of 1961 to clarify the meaning of 
the term ``aggregate value'' for purposes of the Presidential drawdown 
                               authority.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CLARIFICATION OF THE TERM ``AGGREGATE VALUE'' FOR PURPOSES 
              OF PRESIDENTIAL DRAWDOWN AUTHORITY.

    The Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.) is 
amended--
            (1) in section 506(a)(1) (22 U.S.C. 2318(a)(1)), in the 
        undesignated matter following subparagraph (B), by inserting 
        after ``fiscal year.'' the following: ``For purposes of this 
        paragraph, the term `aggregate value' means--
                    ``(A) in the case of defense articles, the greater 
                of--
                            ``(i) the original acquisition cost to the 
                        United States Government, plus the cost of 
                        improvements or other modifications made by or 
                        on behalf of the Government; or
                            ``(ii) the replacement cost; and
                    ``(B) in the case of defense services, the full 
                cost to the Government of providing the services.''; 
                and
            (2) in section 644(m)(2) (22 U.S.C. 2403(m)(2)), by 
        inserting ``except as provided in section 506(a)(1),'' before 
        ``with respect to''.
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