To provide for necessary closures and realignments of domestic and foreign military installations of the United States.

Directs the Secretary of Defense to establish the Commission on Base Realignment and Closure to: (1) determine if certain efficiencies can be realized through closure or realignment of domestic and overseas U.S. military installations; and (2) make recommendations for such closures and realignments. Directs the Secretary to initiate and complete all recommended closures and realignments by specified dates.

Outlines conditions for such closures and realignments, including congressional reports and the lack of a joint resolution from the Congress disapproving the Commission's recommendations. Terminates the authority to carry out any closure or realignment under this Act on a specified date.

Directs the Secretary to carry out any recommended base closure or realignment and to provide economic adjustment assistance, community planning assistance, and environmental restoration with respect to affected areas or communities. Directs the Administrator of General Services to delegate to the Secretary all appropriate authority to dispose of property for purposes of such closures or realignments, after consultation with the Governor of the State and the heads of local governments concerning other uses of the property to be disposed. Requires the Secretary to notify all other departments and other instrumentalities of the availability of such property made excess by such closures or realignments. Outlines the applicability of the National Environmental Policy Act of 1969 with respect to actions of the Commission and the Secretary concerning base closures and realignments under this Act.

Directs the Secretary to report to the Congress on the schedule for, cost savings from, and environmental effects of, base closures and realignments.

Establishes the Department of Defense Base Closure Account 1990 to receive deposits for, and proceeds from, base closures or realignments to be used for such closures and realignments. Requires certain reports with respect to the use of Account funds.

Outlines the legislative process for the consideration of a joint resolution to disapprove the Commission's recommendations.