This legislation significantly modifies the Arms Export Control Act by integrating Taiwan into the list of countries that benefit from shorter certification and reporting periods for defense articles and services. This change places Taiwan on par with other close allies, such as New Zealand and Israel, streamlining the process for the United States to provide military assistance and support. Furthermore, the bill directs the Secretary of State to establish an expedited decision-making process within 90 days for third-party transfers of defense equipment to Taiwan. This expedited process applies to transfers from NATO member countries, Japan, Australia, the Republic of Korea, Israel, and New Zealand, covering both classified and unclassified items, including U.S.-origin defense articles. It sets ambitious timelines, requiring decisions on government-to-government agreements within 15 days and other licensing requests within 30 days. The Secretary of State is also required to submit a report within one year of the process's establishment, detailing its implementation and effectiveness. This report must include an assessment of coordination efforts with allied nations to ensure alignment with their respective export control regulations, thereby strengthening collective defense support for Taiwan.