,,ii #aahth ,,congress #ast ,session ,s4 #ggj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #i1 #bjbc,mrs4 ,blackburn 7for herself1 ,mr4 ,scott of ,florida1 and ,mr4 ,rubio7 introduced the following bill2 which was read twice and referred to the ,committee on ,foreign ,relations ,a ,,bill ,to provide for the loan and lease of defense articles to the ,government of ,taiwan1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,taiwan ,democracy ,defense ,lend-,lease ,act of #bjbc4 #b4 ,loan and lease of defense articles to ,government of ,taiwan 7a7 ,authority ,to lend or lease defense articles to ,government of ,taiwan 7#a7 ,authority ,notwithstanding section #ejc7;b77#c7 of the ,foreign ,assistance ,act of #aifa 7#bb ,u4,s4,c4 #bcaa7;b77#c77 or section #fa of the ,arms ,export ,control ,act 7#bb ,u4,s4,c4 #bgif71 the ,president may lend or lease defense articles to the ,government of ,taiwan to assist in the bolstering of the defensive capabilities of such ,government or the protection of the citizen population of ,taiwan from potential aggression carried out by the ,people's ,liberation ,army of ,china against ,taiwan 7including through one or more of the means described in paragraph 7#b77 if1 as a condition of such loan or lease1 the ,president requires-- 7,a7 the payment by the ,government of ,taiwan of the cost of restoring or replacing the defense article1 in the case that the defense article is damaged2 and 7,b7 the payment by the ,government of ,taiwan of an amount equal to the replacement cost 7less any depreciation in the value7 of the defense article1 in the case that the defense article is lost or destroyed4 7#b7 ,means of aggression by ,people's ,liberation ,army ,the means described in this paragraph are the following3 7,a7 ,the full or partial naval blockade of ,taiwan4 7,b7 ,an amphibious assault and ground invasion of ,taiwan4 7,c7 ,a missile strike 7whether conducted alone or as a part of a broader campaign74 7,d7 ,kinetic or non-kinetic operations against military targets or critical infrastructure in ,taiwan4 7,e7 ,a seizure1 or attempted seizure1 of one or more of the outlying islands controlled by ,taiwan4 7#c7 ,defense services and defense construction services 7,a7 ,in general ,the ,president may finance the procurement of defense services and design and construction services by the ,government of ,taiwan in connection with a loan or lease of a defense article to such ,government under paragraph 7#a71 if1 as a condition of such financing1 the ,president requires that1 not later than #ab years after the date on which the agreement with the ,government of ,taiwan for such financing is signed on behalf of the ,united ,states ,government1 the ,government of ,taiwan pay to the ,united ,states ,government 7in ,united ,states dollars7 an amount equal to the sum of-- 7i7 the value of such services2 and 7ii7 any interest on the unpaid balance of the obligation for payment under clause 7i71 at a rate that1 except as provided in subparagraph 7,b71 is equivalent to the average interest rate1 as of the last day of the month preceding the date on which such agreement is signed1 that the ,united ,states ,government pays on outstanding marketable obligations of comparable maturity4 7,b7 ,exception to interest rate requirement ,if the ,president submits to ,congress a certification containing a determination that national security requires a lesser rate of interest than the rate calculated pursuant to clause 7ii7 of subparagraph 7,a71 a justification for such determination1 and an identification of such lesser rate1 the lesser rate so identified shall apply in lieu of the rate calculated pursuant to such clause4 7b7 ,delegation of authority ,the ,president may delegate the authority under subsection 7a7 only to an official appointed by the ,president by and with the advice and consent of the ,senate4 7c7 ,procedures for delivery of defense articles ,not later than #fj days after the date of the enactment of this ,act1 the ,president shall establish expedited procedures for the delivery of any defense article loaned or leased to the ,government of ,taiwan under subsection 7a7 to ensure the timely delivery of the defense article to such ,government4 7d7 ,report on determination of defense needs of ,taiwan 7#a7 ,report ,not later than #ij days after the date of the enactment of this ,act1 the ,secretary of ,defense1 in collaboration with the ,commander of the ,united ,states ,indo-,pacific ,command1 shall submit to ,congress a report on the potential loan and lease of defense articles to the ,government of ,taiwan under subsection 7a74 ,the report shall include the following elements3 7,a7 ,an initial assessment of the defense articles that are appropriate for such loan or lease4 7,b7 ,an assessment of any supply chain or other logistical challenges associated with the loan or lease of defense articles identified pursuant to subparagraph 7,a74 7,c7 ,a discussion of expected timeframes for the provision to the ,government of ,taiwan of defense articles identified pursuant to subparagraph 7,a71 including-- 7i7 expected timelines for the delivery of such defense articles2 and 7ii7 expected timelines for the full integration of such defense articles by the military of ,taiwan1 such that the military of ,taiwan is able to effectively use defense articles so delivered in the event of a conflict with the ,people's ,republic of ,china4 7,d7 ,such other matters as the ,secretary may consider appropriate4 7#b7 ,form ,the report under paragraph 7#a7 shall be submitted in unclassified form1 but may include a classified annex4 7e7 ,definitions ,in this section1 the terms defense article1 defense service1 and design and construction services have the meanings given those terms in section #dg of the ,arms ,export ,control ,act 7#bb ,u4,s4,c4 #bgid74