A bill to establish an intelligence community to promote the national security of the United States, and for other purposes.

Title I: The Intelligence Community - Authorizes the "intelligence community" of the United States to conduct intelligence activities in accordance with the provisions of this Act.

Includes the following entities in the intelligence community: (1) the Office of the Director of National Intelligence; (2) Central Intelligence Analysis Agency; (3) Defense Intelligence Agency; (4) Foreign Intelligence Agency; (5) National Security Agency; (6) National Counterintelligence Office; and (7) intelligence components of the Federal Bureau of Investigation, Drug Enforcement Agency, military services, Departments of Defense, State, Treasury, Energy, and others as determined by the President.

Establishes in the Executive Office of the President an Office of the Director of National Intelligence, headed by a Director of National Intelligence appointed by the President. Includes in such Office: (1) a United States Intelligence Board (USIB), consisting of the heads of the entities in the intelligence community, to coordinate U.S. intelligence activities; and (2) a Board of Presidential Estimates, appointed by the Director, to prepare briefings on intelligence for the President and the National Security Council.

Sets forth the duties of the Director, including to: (1) inform the President of views and developments within the community; (2) make budgetary recommendations for the community; (3) provide the President and Congress with an annual assessment of the community's effectiveness; (4) promulgate regulations governing the classification of sensitive information; (5) coordinate technical services needed by the community; and (6) perform other duties as the President may prescribe.

Requires the Director of Central Intelligence, at the request of the National Security Council, to produce Presidential intelligence estimates. Requires the Director to ensure that diverse points of view within the community are presented.

Establishes a nine-member National Foreign Intelligence Advisory Board, appointed by the President, to evaluate continually the effectiveness of the intelligence community. Directs the Board to report its findings from time to time to the President and the congressional intelligence committees.

Establishes a five-member Intelligence Oversight Board, appointed by the President, to investigate allegations of illegal, unethical, or improper activities of any entity in the intelligence community.

Directs the head of each entity of the community to establish, subject to the approval of the Director of National Intelligence and the Attorney General, guidelines with respect to the following collection methods that may be used against a "U.S. person": (1) intrusive and other covert or clandestine techniques; (2) informants and undercover agents; (3) examination of third-party records, including telephone bills, medical records, and hotel registrations; and (4) public information sources.

Prohibits the nonconsensual use of such methods except in accordance with the guidelines. Requires the guidelines to: (1) take into account such person's constitutional rights; (2) specify the official who must authorize the collection activity; and (3) be reasonably designed to match the acquisition of information with U.S. security needs. Prohibits the use of intrusive techniques against any U.S. person to obtain foreign intelligence while such person is in the United States unless the President determines that it is necessary to obtain intelligence essential to the national security and which cannot be obtained by less intrusive methods.

Restricts the dissemination of intelligence information with respect to a U.S. person by the United States Counterintelligence Office.

Authorizes the head of each entity of the intelligence community to classify information in accordance with the regulations prescribed by the Director of National Intelligence.

Subjects any person, who discloses classified information to a person unauthorized to receive it, to the current penalties for the offense of delivering defense information to aid a foreign government.

Exempts the intelligence community from any laws requiring disclosure of information with respect to information in files specifically designated by the Director of National Intelligence to be concerned with: (1) technical systems for the collection of intelligence information; (2) special and foreign intelligence activities; (3) investigations for determining the suitability of intelligence sources; and (4) liaison or information arrangements with foreign governments.

Amends the Foreign Assistance Act to repeal the Hughes-Ryan amendment of 1974 (conditioning the funding of covert CIA operations on reporting to the "appropriate" congressional committees).

Repeals the provision of the International Security Assistance and Arms Export Control Act of 1976 limiting assistance for military activities in Angola.

Title II: Central Intelligence Analysis Agency - Establishes a Central Intelligence Analysis Agency headed by a Director appointed by the President for a single ten-year term. Charges the Agency with collecting and publishing intelligence information to warn the President and congressional intelligence committees of impending warlike acts anywhere in the world and to assess the disposition and activities of foreign governments.

Title III: Defense Intelligence Agency - Establishes within the Department of Defense a Defense Intelligence Agency to: (1) advise the United States Joint Chiefs of Staff; (2) coordinate the intelligence elements of the Armed Forces; and (3) fulfill the same mission as the Central Intelligence Analysis Agency. Provides for a Director of the Agency, appointed by the President for a single ten-year term.

Title IV: The United States Foreign Intelligence Agency - Establishes in the executive branch the United States Foreign Intelligence Agency, headed by a Director appointed by the President for a single ten-year term. Charges the Agency with collecting throughout the world information not available to the public to keep the President and Congress informed of the resources and activities of foreign governments and entities that might affect the foreign relations or safety and welfare of the United States.

Directs the Agency to: (1) develop the capabilities to influence events outside the United States so that the role of the Government is not revealed or acknowledged and to undertake special activities as the President may order; and (2) conduct intelligence activities in coordination with the Federal Bureau of Investigation as necessary and appropriate to carry out its duties.

Requires the Director to report its activities at least annually to the congressional intelligence committees.

Authorizes the Agency to: (1) permit its employees to use covert techniques anywhere in the world which the Director determines are necessary to accomplish the Agency's mission; and (2) engage in intelligence activity outside the United States, other than intelligence gathering, which is approved by the President and with respect to which the intelligence committees are notified as soon as practicable.

Establishes within the Agency the Contingency Reserve Fund for activities to accomplish the Agency's mission.

Permits particular aliens and their families to be given entry into the United States for permanent residence without regard to their inadmissibility under the immigration laws, upon the determination by the Director, with the approval of the Attorney General, that their admission is in the interest of national security or essential to intelligence activities.

Title V: Federal Bureau of Investigation - Directs the FBI to: (1) perform intelligence and counterintelligence activities to safeguard the United States from foreign agents working in the United States against its interests and from terrorists; and (2) collect and disseminate intelligence to counter terrorism and conduct other activities to achieve the purposes of this Act.

Requires that all FBI counterintelligence and counterterrorist activities outside the United States be conducted in coordination with the Foreign Intelligence Agency. Requires such operations within the United States by other Federal agencies be coordinated with the FBI.

Sets forth the duties of the Director of the FBI, including reporting annually to the congressional intelligence committees on foreign intelligence services and terrorist groups operating in the United States.

Authorizes the FBI to take all lawful measures to protect the United States from hostile intelligence services and terrorists.

Title VI: National Security Agency - Establishes in the Department of Defense the National Security Agency to conduct signals intelligence, cryptology, and communications security for the United States, and to serve as the principal agency of the United States' Signals Intelligence System. Provides for a director of the Agency appointed by the President for a single ten-year term.

Sets forth the duties of the Director, including reporting annually to the congressional intelligence committees on the state of U.S. signals intelligence and communications security.

Title VII: United States Counterintelligence Office - Establishes in the Department of Justice a United States Counterintelligence Office to coordinate the counterintelligence activities of the intelligence community. Provides for a Deputy Attorney General of the Office appointed by the President for a single ten-year term.

Charges the Office with retaining the central counterintelligence files of the Government.

Authorizes the Office to request any entity of the community to initiate an investigation of any U.S. person on the basis of facts and circumstances which reasonably indicate that such person is engaged in: (1) clandestine intelligence activity on behalf of a foreign power; (2) international terrorist activity; (3) international trafficking in drugs or other contraband; and (4) international organized crime activities.

Directs the Attorney General, subject to approval of the Director of National Intelligence, to establish guidelines for the dissemination of information to other law enforcement agencies of the Federal, State, local, or foreign governments. Specifies standards for such guidelines.

Title VIII: Congressional Oversight - Directs the head of each entity of the intelligence community to: (1) keep the congressional intelligence committees fully and currently informed of all intelligence activities; (2) furnish information to such committees upon request; and (3) report to such committees any illegal and corrective intelligence activities that are taken or planned.

Authorizes the President to establish procedures for informing such committees of any special activity not subject to prior notification, together with a statement of reasons for not giving such notice.

Directs the House of Representatives and the Senate, in consultation with the Director of National Intelligence, to establish procedures to protect intelligence information from unauthorized disclosure.