Police Receiving Overly Traumatizing Equipment Changes Today Act or the PROTECT Act This bill provides incentives to encourage states and local governments to return or to not receive transfers from the Department of Defense (DOD) of certain surplus military property (e.g., controlled firearms, ammunition, grenades, and drones) and eliminates the requirement for DOD to give preference to transfers of property that will be used in counterdrug or border security activities. In addition, the bill authorizes grants for programs and training for law enforcement officers such as training on de-escalation techniques.