To authorize appropriations for the payment of United States arrearages to the United Nations.

Authorizes appropriations for the payment of arrearages in assessed U.S. contributions: (1) to the United Nations (UN); and (2) for UN international peacekeeping activities for fiscal years prior to FY 1999.

Expresses the sense of Congress that the United States should: (1) maintain its leadership role within a more effective UN, and continue to seek to lower the long-term costs associated with U.S. participation; (2) continue its efforts to persuade other UN members to support a broad agenda for reform, budgetary discipline, and equitable financial burdensharing; and (3) promptly negotiate a reduction in its assessed contribution for any UN peacekeeping operation to an amount not greater than 25 percent of the total amount of all assessed contributions for such operation.