A bill to permit flexibility in the application of the budget sequester by Federal agencies.

Requires the budget sequester for an account in the security and non-security categories under the Balanced Budget Act for FY2013 to be implemented within each account as determined by the head of the agency with spending authority over such account. Requires the agency head to notify the Appropriations Committees of Congress of a proposed exercise of authority for implementing a sequester not later than five days before exercising such authority.