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(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Naval Vessels Transfer Act of 2006 - Authorizes the President to transfer on a grant basis to: (1) Lithuania, the OSPREY class minehunter coastal ships KINGFISHER and CORMORANT; (2) Portugal, the OLIVER HAZARD PERRY class guided missile frigates GEORGE PHILIP and SIDES; and (3) Turkey, the OSPREY class minehunter coastal ship BLACK HAWK. Authorizes the President to transfer on a sale basis to: (1) Taiwan, the OSPREY class minehunter coastal ships ORIOLE and FALCON; (2) Turkey, the OSPREY class minehunter coastal ship SHRIKE; and (3) Mexico, the AUSTIN class amphibious transport dock ships OGDEN and CLEVELAND. States that: (1) the value of such vessels transferred on a grant basis shall not be counted against the aggregate value of excess defense articles transferred to countries in any fiscal year under the Foreign Assistance Act of 1961; (2) transfer costs shall be charged to the recipient; and (3) to the maximum extent practicable, the country to which a vessel is transferred shall have necessary vessel repair and refurbishment carried out at U.S. shipyards (including U.S. Navy shipyards). Terminates transfer authority two years after enactment of this Act.

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