S. 2642 — SEIZE Act

This section authorizes the President to treat as stocks of the United States any weapons or materiel seized while in transit from Iran to the Houthis in Yemen. The section amends sec. 506(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2318(a))—which authorizes drawdowns from Department of Defense stocks of up to $100 million annually for unforeseen emergencies requiring immediate military assistance and up to $200 million in the national interest for purposes such as international disaster assistance, narcotics control, and antiterrorism (i.e., in addition to those amounts)—by adding a new paragraph (4) permitting drawdown of such seized weapons and materiel for provision to foreign partners. The section further requires the President to submit to specified congressional committees (i.e., Armed Services and Foreign Relations/Foreign Affairs Committees of the Senate and House), within 180 days of enactment and annually thereafter, a report detailing exercises of this authority, an inventory of seized items treated as U.S. stocks, and an inventory of items provided to foreign partners.