(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Authorizes the President to transfer to the Republic of Korea U.S. Department of Defense (DOD) obsolete or surplus munitions, equipment, and materiel (such as tanks, trucks, artillery, mortars, general purpose bombs, repair parts, barrier material, and ancillary equipment) that are intended for use as reserve stocks for the Republic of Korea and that are stockpiled in the Republic of Korea or Japan.
States that: (1) the value of such concessions shall be at least equal to the transferred items' fair market value, less any DOD savings (which may not exceed the fair market value of the items transferred) from the avoidance of removal or disposition costs; and (2) such concessions may include cash compensation, services, waiver of charges otherwise payable by the United States (such as charges for demolition of U.S.-owned or U.S.-intended munitions), and other items of value.
Terminates such transfer authority three years after the date of the enactment of this Act.
Directs the Secretary of DOD to certify to the appropriate congressional committees whether or not the items in the War Reserves Stockpile for Allies, Korea available for transfer to the Republic of Korea are of any utility to the United States for: (1) counterterrorism operations; (2) contingency operations; (3) training; or (4) stockpile, pre-positioning, or war reserve requirements.
Terminates the War Reserves Stockpile for Allies, Korea program at the conclusion of such transfer. Directs DOD to remove or dispose of any remaining items in the War Reserves Stockpile for Allies, Korea.