US HB5623

Authorizes the President to treat weapons and materiel seized by the U.S. while in transit from Iran to Houthi forces in Yemen as official U.S. military stocks

Amends Section 506(a) of the Foreign Assistance Act of 1961 to allow the President to direct drawdown of these seized weapons for transfer to foreign partners

Requires the President to submit reports to Congress within 180 days of enactment and annually thereafter

Reports must include the number of times the authority was exercised, inventory of seized weapons treated as U.S. stocks, and inventory of weapons provided to foreign partners

Reporting goes to the Armed Services and Foreign Affairs/Foreign Relations committees in both chambers of Congress