North Atlantic Treaty Organization Mutual Support Act of 1979

North Atlantic Treaty Organization Mutual Support Act of 1979 - Authorizes the acquisition of equipment and services for U.S. Armed Forces deployed in Europe from the other North Atlantic Treaty Organization (NATO) countries, pursuant to agreements under this Act, in lieu of the procurement provisions applicable to the U.S. Armed Forces. Sets forth limitations on such authority concerning: (1) initial issue quantity requirements; (2) excluded equipment; (3) acquisitions on a reimbursable basis; and (4) agreements for base operations support or use of facilities.

Authorizes the transfer of equipment and services from U.S. Armed Forces deployed in Europe for the use of the armed forces of NATO countries, pursuant to agreements which are in lieu of Arms Export Control Act provisions.

Stipulates that such equipment and services be acquired or transferred on a: (1) reimbursement basis; (2) rent-free short-term loan basis; or (3) replacement-in-kind basis (including exchanges).

Requires the Secretary of Defense to issue regulations before any agreement may be concluded under this Act. Stipulates that such regulations shall contain provisions concerning: (1) payment methods; (2) recordkeeping requirements; (3) contracts by members of Congress; and (4) acquisitions of equipment subject to other statutory limitations.

Directs the Secretary to submit annual descriptions to Congress of: (1) agreements entered into pursuant to this Act; and (2) the dollar values of transactions.

Authorizes the transfer of supplies to military aircraft of NATO countries when such aircraft are present in the United States and Canada in support of armed forces deployed in Europe.