Defense Offsets Disclosure Act of 1999

Defense Offsets Disclosure Act of 1999 - Declares that U.S. policy is to develop a workable system to monitor the use of offsets in the defense industry (the entire range of industrial and commercial benefits provided to foreign governments as an inducement or condition to purchase military goods or services), to promote fairness in international trade, and to ensure an appropriate level of foreign participation in production of U.S. weapons systems. Expresses the sense of Congress that: (1) the executive branch should pursue efforts to address trade fairness by establishing transparent standards for the use of offsets in international business transactions among U.S. trading partners and competitors; (2) the Secretary of State, the Secretary of Commerce, and the United States Trade Representative should raise the need for transparency and other standards bilaterally with other industrialized nations at every venue; and (3) the U.S. Government should enter into discussions for the establishment of multilateral standards for the control of the use of offsets in international defense trade through the appropriate multilateral fora, including the Transatlantic Economic Partnership, the Wassenaar Arrangement, the G-8, and the World Trade Organization. Amends the Arms Export Control Act to require certain numbered certifications to Congress with respect to any letter of offer to sell (Government-to-Government sale), or license for export (commercial sale), major defense equipment in the amount of $14 million or more, or defense articles or services in the amount of $50 million or more. Requires each numbered certification to include a description of any offset agreement, including its dollar amount. Directs the President to report to Congress on all measures taken to fulfill offset obligations under such agreements. Extends to exports of defense articles or services the current prohibition against incentive payments by U.S. suppliers to satisfy any offset agreement with a foreign country to which such articles or services are sold. Directs the President to initiate a feasibility review, then report to the appropriate congressional committees on a strategy for U.S. negotiations of multilateral agreements with designated foreign countries that provide standards for the use of offsets with respect to the sale or licensing of defense articles or services, including a timetable for entering into such multilateral agreements, and any progress toward reaching an agreement. Establishes a National Commission on the Use of Offsets in Defense Trade to address all aspects of the use of offsets in international defense trade. Requires the Commission to report to the appropriate congressional committees with respect to such offset agreements.