1. Short title This Act may be cited as the Return Expenses Paid and Yielded Act or REPAY Act . 2. Modification of certification and report requirements relating to sales of major defense equipment with respect to which nonrecurring costs of research, development, and production are waived or reduced under the Arms Export Control Act (a) Certification Section 36(b) of the Arms Export Control Act ( 22 U.S.C. 2776(b) ) is amended by adding at the end the following: (7) (A) In the case of any letter of offer to sell any major defense equipment for $14,000,000 or more, in addition to the other information required to be contained in a certification submitted to the Congress under this subsection, or a similar certification prior to finalization of a letter of offer to sell, each such certification shall include the value of any charge or charges for the proportionate amount of any nonrecurring costs of research, development, and production of the major defense equipment that was waived or reduced under section 21(e). (B) Each such certification shall also include information on— (i) the type of waiver or reduction; (ii) the percentage of otherwise obligated nonrecurring costs with respect to which the waiver or reduction comprises; (iii) a justification for issuance of the waiver or reduction; (iv) in the case of a waiver or reduction made under paragraph (2)(A) of section 21(e)— (I) the manner in which a sale would significantly advance standardization with the foreign countries or international organization described in such section; and (II) the extent to which the sale’s significance should be considered relative to the existing capabilities of the foreign country or international organization and the manner in which the major defense equipment would enhance the capacity of the country or organization in joint operations; and (v) in the case of a waiver or reduction made under paragraph (2)(B) of section 21(e)— (I) the military needs and ability to pay of the foreign country or international organization