A bill to provide for an overall limit on appropriations for a fiscal year, legislative control over impoundment of Federal funds, and modification of the fiscal year so that it coincides with the calendar year.

Establishes procedures for determining an overall limit on appropriations for a fiscal year.

Requires the President to notify within ten days each House of the Congress by special message of every instance in which he impounds funds or authorizes such impoundment by any officer of the United States. States that such message must specify the amount of impounded funds, the specific programs affected, and the reasons for the impoundment of funds. Provides that the President shall cease the impounding of funds set forth in each special message within sixty days of continuous session after the message is received by the Congress unless the specific impoundment shall have been ratified by the Congress by the passage of a resolution in

States that four years after the enactment of this Act the fiscal year shall coincide with the calender year.