There is one summary for S.3394. Bill summaries are authored by CRS.

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Introduced in Senate (04/29/1974)

Foreign Assistance Act - Title I: Middle East Peace - States that the Congress recognizes that a peaceful settlement in the Middle East is essential to the security of the United States and world peace and that assistance programs in the Middle East can contribute to such a peaceful settlement.

Authorizes the President to furnish assistance under the Foreign Assistance Act of 1961, and to furnish credits and guarantees under the Foreign Military Sales Act. Sets forth the levels of military assistance and security supporting assistance appropriations intended for Middle East programs.

Authorizes the appropriation to the President of $100,000,000 for fiscal year 1975 to meet special requirements arising from time to time in carrying out the purposes of this Act.

Repeals the prohibition of assistance to Egypt absent findings by the President that such assistance is in the national interest.

Title II: Indochina Postwar Reconstruction - Authorizes appropriations for relief and reconstruction of South Vietnam, Cambodia, and Laos.

Title III: Foreign Assistance Act Amendments - Increases the authorization of appropriations for the alleviation of starvation, hunger, and malnutrition.

Extends the termination date of the housing guaranty authority from June 30, 1975 to June 30, 1976.

Increases the appropriations authorized for International Organizations and Programs by $3,900,000 for fiscal year 1975.

Authorizes the appropriation of $985,000,000 for military assistance for fiscal year 1975.

Extends the President's special authority to draw down Department of Defense stocks and services for the military assistance program through fiscal year 1975 and such additional period as may precede the enactment of subsequent military assistance authorizing legislation.

Imposes a ceiling of $150,000,000 upon the aggregate value of defense articles ordered for the military assistance program during fiscal year 1975.

Provides that the provisions of the Act which prohibit assistance to Cambodia not specifically authorized by law shall not apply during fiscal year 1975.

Authorizes the appropriation of $385,500,000 for Security Supporting Assistance activities under the Act.

Title IV: Foreign Military Sales Act Amendments - Revises the provisions of the Foreign Military Sales Act which relate to the ineligibility for further sales, credits, and guaranties of countries that violate foreign military sales agreements by specifying the conditions under which such countries may again receive assistance under the Act.

Authorizes foreign military sales guaranties to be issued to the Federal Financing Bank. Sets forth technical changes in the obligation of such funds.

Authorizes the appropriation of $555,000,000 for fiscal year 1975 to carry out the purposes of the Foreign Military Sales Act and establishes a ceiling of $872,500,000 for fiscal year 1975 on the aggregate of credits and the principal amount of loans guaranteed.

Repeals, under the Foreign Act, the ceiling in military assistance, foreign military sales credits and guaranties and vessel transfers to Latin America.

Authorizes the President to waive the ceiling on assistance and sales to African countries.