New Partnerships Initiative Authorization Act This bill provides statutory authority for the New Partnerships Initiative within the U.S. Agency for International Development (USAID). The initiative aims to diversify the USAID's partner base by creating avenues for new, underutilized, and local partners to work with, and access funding from, the USAID. The bill defines new partner as a nonprofit that has not received USAID funding as a prime partner in the past five years, underutilized partner as a nonprofit that has received less than $25 million in direct or indirect awards from the USAID in the past five years, and local partner as a local entity or locally established partner of a U.S.-based nonprofit. The USAID must annually report to Congress on funding awarded to new, underutilized, and local partners.