International Science and Technology Transfer Act

International Science and Technology Transfer Act - States that the purpose of the Act is to facilitate the transfer of developments in science and technology from the United States to projects in cooperation with less developed countries and from such countries to the United States.

Establishes an institute to be known as the International Science and Technology Transfer Institute. States that the Council of the Institute shall be composed of specified representatives from within the government. Directs the Council to establish standards and procedures concerning: (1) the translation of information transmitted by the Institute pursuant to this Act; (2) the hours of operation of the Institute's communication center; (3) encouraging countries which have a communication center established under this Act to establish an entity similar to the Institute to permit greater coordination with the Institute; (4) using the Institute's communication center and the communication center of any less developed country to provide support for and encourage the transfer of science, technology, culture, and our information from such less developed country to researchers and institutions in the United States; and (5) using the Institute's communication center to transmit information to the communication center in any less developed country during a natural disaster in such country.

Provides that the Director of the Institute, with the approval of the Council, shall establish procedures: (1) to enable the Institute to monitor on an on-going basis discoveries, inventions, and research developments in science and technology (including satellite applications thereof), made in the United States, made at any location with financial assistance from the United States Government, or made at any location by a corporation or any other person which is owned or controlled by a United States citizen; and (2) obtain by purchase or gift any information concerning any discovery, invention, or development included in paragraph (1) from the individual who owns the patent or copyright for such discovery, invention, or development, or (if no one owns such patent or copyright) from the individual who makes such discovery, invention, or development. States that the Institute shall retain all information it obtains and shall disseminate such information to foreign persons pursuant to the provisions of this Act.

Requires any less developed friendly country to submit a request to the Council for permission to receive information retained by the Institute. Provides that the Council shall approve any such request if (1) the requesting country agrees not to apply customs duties or other charges on information received in that country from the Institute under this Act, (2) the requesting country agrees not to charge any fee not authorized to any person in that country for requesting or receiving any information under this Act, and (3) the Council determines that its approval of the requesting country is in the United States' national interest.

States that, immediately after the approval of the request from a developing country, the Director of the Institute shall send members of the Institute's staff to that country. Provides that the members of the staff and officials of that country shall jointly determine: (1) the complexity of the communication center which that country needs in order to obtain information from the Institute's communication center in the United States, and (2) the amount of funds, if any, the Institute will contribute toward the costs of establishing and maintaining that country's communication center.

Provides that the Institute shall receive any request for such information from a less developed country's communication center if the request originated from (1) any national of such country, or (2) any foundation, corporation, international organization, or any other person for such person's project in such country.

Authorizes appropriations of not more than $50,000,000 to the National Science Foundation to carry out the provisions of this Act for the first five consecutive fiscal years.