A bill to amend chapter 7 of title 31, United States Code, to authorize the General Accounting Office to take certain personnel actions, and for other purposes.

Amends Federal law governing the General Accounting Office to authorize the Comptroller General to: (1) establish senior-level positions to meet critical scientific, technical or professional needs of the Office from specified authorized positions; and (2) reassign a member of the Senior Executive Service to such positions.

Provides guidelines for: (1) voluntary early retirement authority; and (2) separation pay.

Directs the Comptroller General to prescribe regulations for a reduction in force implemented for downsizing, realigning, or correcting skill imbalances.