To authorize appropriations for the payment of United States arrearages in assessed contributions to the United Nations for prior years and to authorize appropriations for the payment of assessed contributions of the United States for United Nations peacekeeping operations.

Authorizes appropriations for FY 1998 through 2002 for assessed contributions for international organizations only for the payment of arrearages in assessed contributions to the United Nations for prior years.

Authorizes appropriations for FY 1998 through 2002 for contributions to the United Nations for international peacekeeping activities, but only in an amount not greater than 25 percent of the total of all assessed contributions for any particular operation.

Authorizes the President, after notification of the Congress, to withhold the payment of any appropriated funds authorized by this Act if the United Nations has failed to implement or to continue to implement consensus-based decisionmaking procedures on budgetary matters which assure that sufficient attention is paid to the views of the United States and other member states that are the major financial contributors to the United Nations.