To permit the District of Columbia to issue general obligation bonds to finance the accumulated operating deficit of the general fund of the District.

Amends the District of Columbia Self-Government and Governmental Reorganization Act to authorize the District of Columbia to issue general obligation bonds to finance its outstanding general fund deficit for FY 1990.

Waives the period for congressional review for any Act of the District of Columbia Council to authorize the issuance of such bonds to finance the deficit and makes the Act effective on its enactment or the enactment of this Act.