To amend the Federal Property and Administrative Services Act of 1949 to establish a term of office for the Administrator of General Services.

Amends the Federal Property and Administrative Services Act of 1949 to establish a four-year term of office for the Administrator of the General Services Administration and to require the Deputy Administrator to be a career appointee.

Increases the compensation payable under the Executive Schedule to the Administrator from Level III to Level II, and to the Deputy Administrator from Level IV to Level III.