This legislation aims to significantly enhance defense cooperation between the United States and Israel by establishing a new initiative focused on advanced technology. It recognizes Israel as a strategic ally with shared democratic values and emphasizes the mutual benefits of joint innovation and rapid technology deployment to address evolving security challenges.

The bill mandates the creation of the United States-Israel Defense Technology Cooperation Initiative, led by the Secretary of Defense with Israeli concurrence. This initiative is designed to expand and accelerate bilateral efforts in defense technology research, development, testing, evaluation, integration, and industrial cooperation. Key activities include identifying technologies for integration into U.S. systems, conducting collaborative research involving government, private sector, and academic institutions, and facilitating the transition of technologies from R&D to procurement.

The initiative will focus on critical domains such as counter-unmanned systems, anti-tunneling, missile and air defense, artificial intelligence, cyber defense, and biotechnology. It also seeks to establish frameworks for joint ventures, licensing agreements, and U.S.-based co-production partnerships with Israeli industry, while coordinating with various Department of Defense components to align efforts.

To ensure accountability and transparency, the bill requires the Secretary of Defense to provide an interim progress update within 180 days and submit annual reports to congressional defense committees. These reports will detail activities, assess progress, describe transitioned technologies, and recommend future priorities. Additionally, the Secretary must make periodic, unclassified updates publicly available online, describing how these activities contribute to American technological and military supremacy. The bill authorizes an appropriation of $150,000,000 for each of fiscal years 2027 through 2029 to fund these efforts.