An act to authorize supplemental international security assistance for the fiscal year 1979 in support of the peace treaty between Egypt and Israel, and for other purposes.

(Senate agreed to House amendment with an amendment)

Special International Security Assistance Act of 1979 - Stipulates that: (1) the authorization of appropriations for arms sales guaranties to Egypt and Israel does not constitute congressional approval of the sale of any particular weapons system; and (2) the implementing authority in this Act does not signify congressional approval of any other executive agreement.

Amends the Foreign Assistance Act of 1961 to authorize the President: (1) to construct air bases in Israel; and (2) to furnish defense articles and services to Israel. Authorizes appropriations for such purposes. Provides for partial financing by Israel. Prohibits funding more than 60 persons contracted for personal services abroad for purposes of this chapter.

Expresses the sense of Congress that the legitimate defense interests of Israel and Egypt require a one-time extraordinary assistance package.

Authorizes additional appropriations for fiscal year 1979 under the Arms Export Control Act to be used for arms sales guaranties to Egypt and Israel. Increases the principal amount of such guaranteed loans. Directs the President to report to Congress concerning economic conditions in Egypt and Israel which may affect their ability to repay their obligations.

Authorizes additional appropriations for fiscal year 1979 for Egypt through the Economic Support Fund. Authorizes the President to transfer to Egypt the facilities and property of the U.S. Sinai Field Mission.

Expresses the sense of Congress that: (1) other countries provide financial assistance to support peace in the Middle East; (2) the President should consult with other countries to encourage investments in those countries joining in the Middle East peace; (3) the President should promote an agreement for the establishment of a peace development fund to underwrite the costs of implementing a Middle East peace; and (4) the United States should be prepared to participate in trilateral scientific and technological projects with Egypt and Israel. Directs the President to report to Congress concerning: (1) such efforts; (2) the impact of Arab sanctions on Egypt; and (3) the costs of implementing the Egyptian-Israeli peace treaty.

Encourages all nations, including Israel and Egypt, who are not a party to the Treaty on the Non-Proliferation of Nuclear Weapons, to become parties to that Treaty.