To authorize the transfer of naval vessels to certain foreign countries.

[AI summary unavailable — showing source text] Authorizes the Secretary of the Navy to transfer to: (1) Argentina an auxiliary repair dry dock; (2) Australia the guided missile destroyer Goldsborough; (3) Chile an auxiliary repair dry dock; (4) Greece the guided missile destroyer Richard E. Byrd; (5) a Taiwan instrumentality the auxiliary repair dry dock Windsor; (6) Turkey the frigates Reasoner, Fanning, Thomas C. Hart, and Capodanno; and (7) Turkey the frigate Elmer Montgomery. Waives certain congressional notification requirements with respect to such transfers. Requires transfer costs to be borne by the recipients. Terminates the transfer authority two years after enactment of this Act, with an exception.…