An act to amend the Foreign Assistance Act of 1961 and the Arms Export Control Act to authorize international security assistance programs for fiscal year 1980, and for other purposes.

International Security Assistance Act of 1979 - Amends the Foreign Assistance Act of 1961 to increase the amount the President is authorized to use for emergency purposes, except for funds authorized for development assistance. Requires the President to report to Congress each time such authority is used.

Authorizes appropriations for fiscal year 1980 for: (1) international narcotics control, including funding for narcotics interdiction programs with the Colombian Government; (2) military assistance (with limitations on the amounts to Portugal, Spain, Jordan, the Philippines, and Turkey); (3) peacekeeping operations; and (4) international military education and training (with limitations on Inter-American regional programs).

Amends the Foreign Assistance Act of 1961 to require the President to consider significant improvements in the human rights records of recipient countries when allocating the funds authorized by such Act and the Arms Export Control Act.

Authorizes the President, with prior Congressional approval, to draw down defense articles and services, not to exceed $10,000,000 in value in any fiscal year, to provide emergency military assistance without first finding that failure to respond immediately to such emergency will result in serious harm to vital U.S. security interests.

Permits an authorization for military assistance to a particular country to remain available for three consecutive years after such assistance has been authorized.

Increases the monetary limits of military stockpiles in foreign countries. Permits such stockpiles to be located in South Korea. Directs the President to transmit to the Congress a report regarding the stockpiling authorities for the Republic of Korea.

Authorizes the President to assign military personnel during fiscal year 1980 to manage international security assistance programs in specified countries, including Greece.

Authorizes appropriations for fiscal year 1980 for the Economic Support Fund. Provides guidelines for the allocation and use of Economic Support Fund programs aimed at promoting progress toward a comprehensive peace settlement in the Middle East. Stipulates that none of such funds may be used to provide assistance to Syria unless the President has reported to the Congress that assistance for Syria is in the national interest of the United States.

Authorizes a Southern Africa regional refugee support, training, and economic planning program. Prohibits any aid to Mozambique, Angola, Tanzania or Zambia, unless the President has reported to the Congress that furnishing assistance to such country would further the national interests of the United States.

Authorizes economic assistance to Cyprus for refugee relief, reconstruction, or other activities consistent with a reconciliation on Cyprus, and to Turkey.

Makes certain funds authorized for fiscal year 1980 for the Fund available to Sudan.

Authorizes the transfer of the facilities and related property of the United States Sinai Field Mission to the Arab Republic of Egypt.

Amends the Foreign Assistance Act of 1961 to authorize the President to furnish assistance to friendly countries and international organizations for peacekeeping operations. Specifies that the Department of Defense may be reimbursed for such assistance under the United Nations Participation Act if such activities are not reimbursed by the United Nations.

Authorizes the President to make emergency transfers of funds up to $10,000,000 annually between the Economic Support Fund and the Peacekeeping account.

Amends the Arms Export Control Act to require the identification of transferee countries where a member of NATO makes arms procurement arrangements with either NATO or one of its members for itself and for another NATO member by transferring a part of its own procurement to this third member.

Authorizes the President to provide, without charge, quality assurance, inspection, and contract audit services in connection with defense contracts with North Atlantic Treaty Organization (NATO) member nations if such nation provides the same services to the United States.

Directs the President to identify, in the annual report of arms sales, the weapons or weapons-related defense equipment sales deemed most likely to result in the issuance of a letter or offer during such fiscal year. Requires the President to notify the Congress in writing every six months of any changes in the Arms Sales Proposal and, at the same time, to transmit to the Congress a classified report detailing the executive branch's best estimates of the international volume of arms traffic.

Authorizes the President to reduce or waive certain administrative and reimbursement charges in connection with cooperative agreements with NATO or NATO member countries for research and development of defense articles, provided that for each cooperative project the other participating countries reciprocate by waiving comparable charges. Requires the President to transmit to Congress such a proposed cooperative agreement describing the cooperative project, provided that the Congress does not adopt a concurrent resolution stating that it objects to the proposed project. Exempts such cooperative projects from congressional reporting and licensing requirements.

Directs the President to report quarterly to Congress concerning price and availability estimates provided to foreign countries with respect to sales of defense articles or services.

Authorizes appropriations for fiscal year 1980 for military sales to Israel. Reduces the ceiling on foreign military sales credits. Raises the ceiling on aggregate acquisition costs for excess defense articles ordered for foreign countries.

Revises the repayment terms on loans to Greece and Sudan under such Act.

Repeals the ceiling on military sales to African countries. Expresses the sense of Congress that the President shall exercise restraint in selling and financing defense articles and services to countries in Sub-Saharan Africa.

Requires the President to report within 60 days (instead of 30) to Congress concerning military exports. Repeals the requirement that such reports describe the services performed by and number of Federal employees. Requires the President to report annually to Congress on the number of Federal employees performing under this Act for which reimbursement is provided by the country receiving such services. Requires the President to set forth in a certification to Congress a justification of the determination that a proposed sale of defense articles is in the interests of national security.

Directs the President to review and report to the Congress concerning interagency procedures and disclosure criteria used by the United States in determining whether sensitive weapons technology shall be transferred.

Requires all arms sales notifications to contain an item, classified if necessary, identifying the sensitivity of the technology contained in the articles or services which are to be sold.

Increases the ceiling on commercial sales of major defense equipment.

Includes within the definition of defense articles, uranium depleted in the isotope 235 which is incorporated in defense articles solely to take advantage of high density characteristics unrelated to radioactivity.

Authorizes the President to transfer to Taiwan U.S. property and war reserve material located on Taiwan on January 1, 1979.

Releases Thailand from its contractual obligation to pay the United States for certain ammunition.

Permits assistance to Jordan only if the President certifies: (1) that Jordan is acting in good faith to achieve peace in the Middle East; and (2) that the expenditures of such funds will serve the process of peace in the Middle East.

Authorizes the President to make available the services of the Department of Defense for the removal from Zaire of those foreign armed forces transported to Zaire by the United States at the time of the crisis in Shaba Province in 1978.

Authorizes appropriations for additional economic support fund assistance in fiscal year 1979 for Turkey. Urges all parties to the Cyprus negotiations to demonstrate good faith in the negotiations and to move promptly towards a full, just, and lasting settlement.

Prohibits the use of funds authorized by this Act for the Republic of Panama or its agencies, unless the President determines that specified assistance would further U.S. interests.