Security Assistance and Arms Export Control Reform Act of 2008

[AI summary unavailable — showing source text] Security Assistance and Arms Export Control Reform Act of 2008 - Defense Trade Controls Performance Improvement Act of 2008 - Directs the President to: (1) conduct a comprehensive review of the U.S. arms export controls system in the context of U.S. national security interests and strategic foreign policy objectives; and (2) report respecting satellite export controls. Directs the Secretary of State to review the International Traffic in Arms Regulations and the United States Munitions List to determine those technologies and goods that warrant different or additional controls. Revises authorized uses of defense trade control registration fees. Authorizes the President to provide special licensing authorization for exports of U.S.-manufactured replacement parts in connection with defense items previously exported to North Atlantic Treaty Organization (NATO) member states, Australia, Japan, New Zealand, Israel, and South Korea Sets forth specified defense and security related provisions respecting Israel and South Korea. Extends authority to stockpile defense articles in foreign countries. Authorizes the President to waive certain sanctions to facilitate North Korean denuclearizatio…