A bill to limit the amount that may be obligated by any agency of the Federal Government for contracts in the last three months of any fiscal year.

Limits the amount which may be obligated by a Federal agency for contracts during the last three months of a fiscal year to ten percent of the total amount obligated by that agency in such fiscal year.

Authorizes the Director of the Office of Management and Budget to waive such limitation with respect to a specific contract upon application by any agency. Requires the Director to report on any such waiver to Congress and the Comptroller General of the United States.