Expands the expedited export license review in the 2024 National Defense Authorization Act to cover defense items transferred, reexported, temporarily imported, or brokered within the territory of Australia, Canada, the United Kingdom, or the United States, and requires periodic reports to Congress on that review.

• Applies the expedited license review to transfers, reexports, retransfers, temporary imports, and brokering that stay within the territory of Australia, Canada, the United Kingdom, or the United States.
• Requires the President to report to Congress within 180 days and annually for 15 years on the review's progress, the number of licenses issued, and the principal applicants and defense items licensed.
• Exempts exports and transfers under the AUKUS exemption from the congressional notification requirements of the Arms Export Control Act.
• Requires the Secretary of State, consulting with the Secretary of Defense, to review the Excluded Technologies List annually for five years and every three years after, keeping only items that statute or the Secretaries find need licensing for national security reasons.

• Foreign Affairs Committee (House)
• Foreign Relations Committee (Senate)

International Affairs