This legislation establishes a Strategic Defense Innovation Working Group between the United States and Ukraine, to be formed within 90 days of enactment. Co-chaired by senior U.S. defense officials and involving Ukrainian defense representatives, the group aims to explore pathways for the co-development, co-production, acquisition, and transfer of specific defense systems. These "covered systems" are defined as expendable, low per-unit cost unmanned systems designed for high-threat environments, including unmanned aerial, underwater, and surface vehicles, as well as capabilities to counter such systems. The Working Group's duties include analyzing lessons learned from Ukraine's military and defense industry, identifying Ukraine-designed systems with high operational utility, and recommending their incorporation into U.S. defense programs. It will also develop defense trade foundational agreements, such as mutual technology transfer frameworks with secure data exchange protocols and joint intellectual property ownership. The bill prioritizes the co-development and co-production of these Ukraine-designed systems, requiring assessments of supply chains, costs, and steps needed to produce them at scale in the United States. The Working Group is mandated to provide regular reports and briefings to congressional defense committees and is set to terminate five years after enactment, with a possible one-year extension.