To limit assistance for the Palestinian Authority and the Palestinian people during fiscal year 2004.

Prohibits funds from being obligated or expended for assistance for the Palestinian Authority (or any other Palestinian entity) or for the Palestinian people during a quarter of FY 2004 if the Secretary of State determines that the Palestinian Authority has provided support for acts of international terrorism during the prior 3-month period.

Prohibits more than 25 percent of funds appropriated by the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 2004, for such assistance from being obligated or expended during each quarter of FY 2004.