A bill to amend the Federal Property and Administrative Services Act of 1949, as amended, relating to the disposal of foreign excess property and for other purposes.

Amends the Federal Property and Administrative Services Act of 1949 to prohibit importation of foreign excess property which has been disposed of by a Federal agency or certain property exported pursuant to U.S. military assistance or foreign military sales if such property was manufactured in the United States, unless the Secretary of Commerce determines that importation of such property would not have an adverse effect on U.S. markets. (Currently, the importation of such foreign excess property is prohibited, regardless of where the property was manufactured, unless the Secretary of Commerce (or the Secretary of Agriculture with respect to agricultural commodities) determines that it would relieve domestic shortages or otherwise benefit the U.S. economy.) Exempts property that is imported or certified to be reexported by a Federal agency.

Declares that a violation of such prohibition may result in the suspension of authority to import such property for not more than three years.