To amend the Arms Export Control Act to modify certain provisions relating to AUKUS defense trade cooperation, and for other purposes.

This bill amends the Arms Export Control Act to modify provisions related to AUKUS defense trade cooperation and changes U.S. policy on missile technology exports to certain allies. Sec. 1, Modification of certain provisions relating to AUKUS defense trade cooperation: This section amends Section 38 of the Arms Export Control Act by removing subclauses (I), (II), and (III) from subsection (j)(1)(C)(ii) and redesignating the remaining subclauses. It also updates cross-references in subsection (l)(4) and adds a condition that certain provisions do not relate to the Missile Technology Control Regime. Sec. 2, Statement of policy: This section states that the United States will no longer apply a 'presumption of denial' to exports of materials considered Category 1 or 2 of the Missile Technology Control Regime to NATO allies, major non-NATO allies, or countries of the 'Five Eyes' intelligence alliance, which is defined as Australia, Canada, New Zealand, the United Kingdom, and the United States.