Foreign Assistance Act

Foreign Assistance Act - Authorizes appropriations under the Foreign Assistance Act of 1961 for bilateral development assistance programs, including those intended to alleviate hunger, increase family planning, extend basic education, and solve social development problems. Authorizes appropriations to assist schools, libraries, and hospitals located outside the United States that are sponsored or founded by United States citizens.

Increases the worldwide housing investment guaranty ceiling from $355,000,000 to $505,000,000. Extends the duration of the housing investment guaranty program through the end of fiscal year 1978.

Creates under such Act a new title XII (International Agricultural Research) which authorizes and funds an expanded and sustained international agricultural research program. States the sense of Congress that agricultural research bearing on developing country food production, distribution, storage and marketing, in the network of internationally-oriented research institutions, must be substantially and rapidly expanded, on a continued and longer-range basis. Expresses the commitment of the U.S. to the expansion of such research, in order to promote the necessary long-term planning and institutional growth.

Extends the authorization for International Organizations and Programs through fiscal year 1976 at a level of $189,500,000 and through fiscal year 1977 at a level of $214,000,000.

Creates a permanent authorization for funds to meet emergency requirements for assistance other than those arising from disasters. Authorizes appropriations for fiscal years 1976 and 1977 for assistance to control the illicit production and trafficking in dangerous drugs.

Consolidates existing disaster assistance authorities into a single chapter in such Act and authorizes funds for disaster assistance purposes.

Authorizes the President to furnish assistance to any foreign country or international organization for disaster relief and rehabilitation, which assistance is defined to include assistance relating to disaster preparedness and to the prediction of and contingency planning for natural disasters.

Prohibits the transfer to or for the use of any foreign country, whether by grant or sale or otherwise, of defense articles in the stocks of the Department of Defense which are set aside, reserved, or in any way earmarked or intended for future use by any foreign country, unless: (1) the transfer is authorized by and subject to all the restrictions of the Foreign Assistance Act of 1961 or the Foreign Military Sales Act; and (2) the transfer is charged against MAP funds, FMS credit funds, FMS credit and guaranty program ceiling, or other appropriate statutory limitations in effect at the time transferred.

Authorizes assistance to friendly countries and organizations to support or promote economic or political stability.

Establishes a program of international military education and training. States that the purpose of such program is to encourage mutually beneficial relationships and increased understanding while improving the ability of participating foreign countries to manage their resources and thereby increase their self-reliance. Authorizes the President to provide military education on such terms and conditions as he shall determine and describes the kind of activities that can be engaged in. States that these activities include attendance by foreign military personnel and related civilians at U.S. and foreign military facilities for education or training purposes.

Creates a new catagory of funding designed to cover all AID operating and personnel expenses. Authorizes appropriations for fiscal years 1976 and 1977 for such expenses.

Repeals that section of the Foreign Military Assistance Act of 1961 which authorizes funds for the relief and reconstruction of Indochina.

Authorizes the appropriation of such amounts as may be necessary for the Middle East Special Requirements Fund for fiscal years 1976 and 1977.

Repeals that section of the Foreign Military Sales Act which imposes an aggregate annual ceiling of $40,000,000 on military assistance, credits, and guarantees to African countries.