International Security Assistance and Arms Export Control Act

International Security Assistance and Arms Export Control Act - Amends the Foreign Assistance Act to authorize the appropriation of not more than $5,000,000 for the disaster relief contingency fund for fiscal year 1978. Authorizes the appropriation of $39,000,000 for international narcotics control for fiscal year 1978.

Amends such Act to authorize the appropriation of $228,900,000 for fiscal year 1978 for military assistance, including specific amounts for Greece, Portugal, Spain, Turkey, Jordan, Indonesia, Philippines, and Thailand. Permits the President to increase such amounts by not more than ten percent. Sets forth restrictions on such appropriations.

Amends such Act to increase to $270,000,000 for fiscal year 1978 the value of defense articles which may be added to stockpiles in foreign countries.

Amends the Foreign Assistance Act of 1961 to authorize the assignment of armed forces personnel for the overseas management of military assistance and sales programs. Restricts the use of defense attaches for such functions. Charges the overseas management costs of security assistance programs to funds appropriated by the Foreign Assistance Act of 1961. Exempts personnel performing functions on a fully reimbursable basis under the Arms Export Control Act from prohibitions on the use of military personnel in the management of foreign assistance and sales programs.

Amends such Act to exempt programs in southern Africa from the restriction of security supporting assistance to no more than 12 countries in any fiscal year. Authorizes the appropriation of $1,887,200,000 for such purposes for fiscal year 1978.

Amends the Foreign Assistance Act of 1961 to authorize the appropriation of $35,000,000 for fiscal year 1978 for international military education and training.

Amends the Foreign Assistance Act of 1961 to authorize appropriations not to exceed $25,000,000 for fiscal year 1978 for the Middle East Special Requirements Fund.

Amends the Arms Export Control Act to exempt (1) transfers of maintenance or repair defense services or articles, (2) temporary transfers of defense articles for maintenance or repair, and (3) cooperative cross servicing arrangements among NATO members, from restrictions on the transfer of defense articles.

Amends the Arms Export Control Act to authorize the appropriation of $707,750,000 for fiscal year 1978 to carry out such Act. Increases to $2,217,500,000 for fiscal year 1978 the limitation of the total of credits or loans for foreign military sales, of which not less than $1,000,000,000 shall be available only for Israel. Extends through fiscal year 1978 certain exemptions and repayment conditions for such assistance to Israel.

Amends the Arms Export Control Act to exempt the issuance of licenses for the export of major defense equipment to Australia, Japan, New Zealand, or major defense equipment sold for production purposes, from the $25,000,000 limitation on the value of arms exports to non-NATO countries. Exempts the authorizations of appropriations and limitations of authority for arms exports for fiscal year 1977 from provisions of this Act, when enacted.

Authorizes the appropriation of such sums as may be necessary for fiscal year 1979 to carry out this Act.