To amend the United States-Israel Free Trade Area Implementation Act of 1985 to provide the President with additional proclamation authority with respect to articles of the West Bank or Gaza Strip or a qualifying industrial zone.

Amends the United States-Israel Free Trade Area Implementation Act of 1985 to authorize the President to proclaim the elimination or modification of any existing duty in order to exempt any article from duty if: (1) the article is wholly the growth, product, or manufacture of the West Bank, the Gaza Strip, or a qualifying industrial zone (defined under this Act); (2) the article is imported directly from such area or zone; and (3) the sum of the materials and processing costs of such article is not less than 35 percent of the appraised value of such product at the time it enters into the United States.

Makes an article eligible for such exemption only if: (1) its importer certifies that the article meets the exemption conditions; and (2) when requested by the Customs Service, the importer, manufacturer, or exporter submits a declaration setting forth all pertinent information with respect to such article and the requirements of this Act.

Authorizes the President to: (1) treat such articles as items of Israel for purposes of the free trade agreement entered into between the United States and Israel in 1985, as long as such articles otherwise meet agreement requirements; and (2) include the value of materials and processing costs of such articles as values and costs under such agreement.