Caribbean Basin Security Initiative Authorization Act This bill authorizes the allocation of certain funds for purposes related to the Caribbean Basin Security Initiative, requires the Department of State to develop a strategy for prioritizing efforts to increase disaster response and resilience in the Caribbean, and establishes monitoring and reporting requirements. Funds for carrying out the initiative shall be used for purposes that include (1) promoting citizen safety, security, and the rule of law in the Caribbean; (2) prioritizing efforts to combat corruption; and (3) promoting the rule of law in the Caribbean and countering influence from authoritarian regimes. The State Department shall develop a strategy that incorporates specific, measurable benchmarks demonstrating a prioritization of efforts to increase disaster response and resilience through carrying out specified coordination, resilience, and preparedness programs in beneficiary countries. The State Department must also submit an implementation plan that includes a timeline and stated objectives for such actions to be taken.