A bill to amend subchapter II of chapter 15 of title 31, United States Code, to limit year-end spending by executive agencies.

[AI summary unavailable — showing source text] Prohibits any executive agency from obligating more than 20 percent of its total controllable budgetary resources during the last two calendar months of FY 1986 or of any subsequent fiscal year. Permits the Director of the Office of Management and Budget to authorize a waiver for any agency if necessary to prevent a serious disruption in the execution of any of the agency's programs or operations. Requires the head of each executive agency to submit a report to the Congress and the President after the close of each fiscal year describing the agency's compliance with such limitation. Permits the Director to apportion annual appropriations and set asides in a manner consistent with this Act. Exempts any reserves established and any other actions taken to satisfy this Act from specified reporting requirements of the Impoundment Control Act of 1974.…