A bill to amend the Impoundment Control Act of 1974 to reform the deferral procedures.

[AI summary unavailable — showing source text] Amends the Impoundment Control Act of 1974 to require any proposed budget deferral to specify a date on which the budget authority shall be released for obligation. Prohibits any amount of the authority to be withheld from obligation after such date. Requires such date to be no later than the earlier of: (1) the end of the fiscal year or the date on which the authority must be released to assure its prudent obligation, if the authority expires at the end of the fiscal year in which the deferral is proposed; and (2) 365 days after the special message proposing the deferral is transmitted to the Congress or the date on which the authority must be released to assure its prudent obligation, if the authority is available for more than one fiscal year. Deems any budget deferral not meeting such requirements to be a budget rescission as determined by the Comptroller General within five days after the proposed deferral is transmitted to the Congress. Prohibits more than one proposed deferral of budget authority available for more than one fiscal year. Requires budget authority proposed to be deferred to be made available for obligation if a joint resolution disapproving such deferral is en…