To improve the operational efficiency of the James Madison Memorial Fellowship Foundation, and for other purposes.

[AI summary unavailable — showing source text] Amends the James Madison Memorial Fellowship Act to allow members of the Board of Trustees of the James Madison Memorial Fellowship Foundation whose terms have expired to continue to serve for a certain transition period under specified conditions. Eliminates a requirement that conditioned funding for such fellowships on there being a specified minimum amount of contributions from private sources to the James Madison Memorial Fellowship Trust Fund.…