To provide for the establishment of a Joint Committee on Intelligence.

Establishes the Joint Committee on Intelligence. Declares that such committee has exclusive legislative jurisdiction with respect to any intelligence activity of the Federal Government and authorizations for appropriations for specified agencies and intelligence-related activities.

Directs the joint committee to classify its information and records and to establish guidelines for their maintenance, use, and availability. Sets forth procedures for the disclosure of such information. Directs the joint committee to establish and carry out rules and procedures necessary to prevent the unauthorized disclosure of information.

Makes conforming amendments to the National Security Act of 1947 and the Rules of the House of Representatives, including abolishing the Permanent Select Committee on Intelligence.