To affirm the importance of the Taiwan Relations Act, to provide for the transfer of naval vessels to certain foreign countries, and for other purposes.


Summary: Taiwan Relations Act Affirmation and Naval Vessel Transfer Act of 2014 - Title I: Affirmation of Importance of Taiwan Relations Act and Transfer of Naval Vessels to Taiwan - (Sec. 101) States that Congress: (1) reaffirms its commitment to the Taiwan Relations Act as the cornerstone of U.S.-Taiwan relations; (2) reaffirms its support for Taiwan's democratic institutions; (3) reaffirms that peace in the Taiwan Strait should be maintained to the benefit of the Asia-Pacific region; (4) supports the U.S. commitment to Taiwan's security in accord with the Taiwan Relations Act, including Taiwan's procurement of sophisticated weapons of a defensive character such as F-16 C/Ds aircraft and diesel electric submarines; and (4) reaffirms its commitment to deepen U.S.-Taiwan trade and investment relations as well as support for Taiwan's inclusion in bilateral and regional trade agreements. (Sec. 102) Authorizes the President to transfer on a sale basis the OLIVER HAZARD PERRY class guided missile frigates TAYLOR, GARY, CARR, and ELROD to the Taipei Economic and Cultural Representative Office of the United States (which is the Taiwan instrumentality designated pursuant to the Taiwan Relations Act). States that: (1) transfer costs shall be charged to the recipient, and (2) the country to which a vessel is transferred shall have necessary vessel repair and refurbishment carried out at U.S. shipyards (including U.S. Navy shipyards) to the maximum extent practicable. Terminates transfer authority three years after enactment of this Act. Title II: Transfer of Naval Vessels to Certain Other Foreign Recipients - (Sec. 201) Sets forth certain congressional findings with respect to Mexico and Thailand. (Sec. 202) Authorizes the President to transfer on a grant basis to: (1) Mexico, the OLIVER HAZARD PERRY class guided missile frigates CURTS and MCCLUSKY; and (2) Thailand, the OLIVER HAZARD PERRY class guided missile frigates RENTZ and VANDEGRIFT. Authorizes the President, when transferring any vessel named in this Act, to ensure that the total number of vessels transferred to a country named in this Act does not exceed the total number authorized for transfer to that country. States that: (1) the value of such vessels transferred on a grant basis shall not be counted against the aggregate value of excess defense articles transferred to countries in any fiscal year under the Foreign Assistance Act of 1961, (2) transfer costs shall be charged to the recipient, and (3) the country to which a vessel is transferred shall have necessary vessel repair and refurbishment carried out at U.S. shipyards (including U.S. Navy shipyards) to the maximum extent practicable. Terminates transfer authority three years after enactment of this Act. Title III: Arms Export Control Act Amendments - (Sec. 301) Amends the Arms Control Act to increase congressional notification thresholds for certain foreign military and commercial sales. (Sec. 302) Declares that: (1) a defense-related license or other approval from the Department of State may also authorize the export of items subject to the Export Administration Regulations if such items are to be used in or with defense articles controlled on the United States Munitions List; and (2) separate Department of Commerce approval shall not be required, but such items shall remain under Department of Commerce jurisdiction with respect to any subsequent transactions. (Sec. 303) Directs the President to require that at the time of export or reexport of certain major defense equipment such equipment will not be subsequently modified so as to transform it into a defense article. Authorizes the President to permit the transformation of any major defense equipment into a defense article if in U.S. national interests, and with congressional notification. (Sec. 304) Amends the Foreign Assistance Act of 1961 to revise the definition of &quot;security assistance.&quot; (Sec. 305) Amends the Arms Export Control Act to revise the definitions of &quot;defense article&quot; and &quot;defense service.&quot; (Sec. 306) Makes specified technical amendments to the Arms Export Control Act and the Foreign Assistance Act of 1961. Title IV: Application of Certain Provisions of Export Control Act - (Sec. 401) Provides for the four-year continuation of certain export license information confidentiality protections under the Export Administration Act.