TRANSFER AUTHORITY

SEC. 1201. TRANSFER AUTHORITY (a) Authority to Transfer Authorizations.—(1) Upon determination by the Secretary of Defense that such action is necessary in the national interest, the Secretary may transfer amounts of authorizations made available to the Department of Defense in title I, II, or III for any fiscal year between any such authorizations for that fiscal year (or any subdivisions thereof). Amounts of authorizations so transferred shall be merged with and be available for the same purposes as the authorization to which transferred. (2) The total amount of authorizations for any fiscal year that the Secretary of Defense may transfer under the authority of this section may not exceed $2,000,000,000. (b) Limitations.—The authority provided by this section to transfer authorizations— (1) may only be used to provide authority for items that have a higher priority than the items from which authority is transferred; and (2) may not be used to provide authority for an item that has been denied authorization by Congress. (c) Effect on Obligation Limitations.—A transfer made under the authority of this section increases by the amount of the transfer the obligation limitation provided on the account (or other amount) to which the transfer is made. (d) Notice to Congress.—The Secretary of Defense shall promptly notify Congress of transfers made under the authority of this section.