An original bill to amend title 31 of the United States Code to restrict the use of appropriations amounts available for definite periods.

Amends Federal law to restrict the use of appropriations amounts available for definite periods (M accounts) to the period specified in law, plus the two-year expiration period. Requires retention of M accounts as necessary to pay severance pay, contract incentive awards, and contingent liabilities as a result of lawsuits. Prohibits use of such accounts to increase the value of an existing obligation. Repeals the authority of any Federal agency to withdraw amounts from merged surplus accounts in certain circumstances.

Directs the Congressional Budget Office annually to: (1) estimate the outlay impact on the Federal deficit, on an agency-by-agency basis, of agency practices with respect to liquidating M account obligations, beginning for FY 1991; and (2) estimate, on an agency-by-agency basis, the level of M account and merged surplus balances and the amount of restoration for each fiscal year and include such estimates in its reports to the Congress concerning the economy and the budget.