To provide that, in any year in which the Congress does not timely adopt a concurrent resolution on the budget that eliminates the deficit by fiscal year 2002, Members of Congress shall forfeit their right to be paid for the remainder of that year.

Amends the Legislative Reorganization Act of 1946 to provide that if, in any calendar year beginning after the enactment of this Act and before the start of FY 2002, the Congress does not complete action on a balanced budget resolution before June 16th, no Member of Congress shall be entitled to pay for service performed during any month in such year that begins after that date.

Requires that the amount of such forfeited pay be returned to the Treasury for deficit reduction.