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 of appropriations for specified agencies and intelligence-related activities.

Directs the Joint Committee to review and study on a continuing basis any intelligence or counterintelligence activity conducted by any Federal agency or department.

Directs the Joint Committee to: (1) classify its information and records according to standards used generally by the executive branch; and (2) prevent the unauthorized disclosure of information.

Prohibits any Member of Congress from disclosing information received from the Joint Committee without proper authorization, except in a closed session of the House of Representatives or the Senate.