A bill to regulate expenditures of appropriated funds with respect to private property used as residences by the President and Vice President of the United States.

Provides that the Administrator of the General Services Administration (or any other person authorized by law to make expenditures for construction, maintenance, renovation, or other work, or for the purchase of any addition, furnishing, or other article) may only make expenditures to perform such protective functions with respect to two private or other properties not in Government ownership or control, one designated by the President and one designated by the Vice President, and only if: (1) each such property is located in the home State of, and is owned by, the President or Vice President, respectively, prior to the date on which such President or Vice President was first elected; and (2) such expenditure was specified as a line item in the budget for the fiscal year in which such request is made; or (3) such expenditure is approved by a majority of the members of the Appropriations Committee of both Houses of Congress, present and voting, within fifteen days of the receipt of the request to make any such expenditures.

Directs the Administrator to make recommendations to enable the Secret Service to perform its protective functions of the President or Vice President with respect to any private or other property not in Government ownership or control. Requires that the President or Vice President, as the case may be, shall bear all cost to carry out the recommendations of the Administrator.

Provides that, with the exceptions stated in this Act, no funds appropriated under any Act may be available on or after the date of enactment of this Act for any expenditure with respect to any private or other property not in Government ownership or control which is used as a residence, temporary or otherwise, by the President or Vice President or their respective families.

States that possession of any article or object by the President or Vice President purchased pursuant to this Act which is not permanently affixed to the properties shall revert to the United States after either person leaves such office, unless the Administrator determines that such article is necessary to enable the Secret Service to perform its protective functions.

Directs the Administrator to send a report to the Congress within ninety days after the President or Vice President leaves office which specifies the property which he determines should not revert to the United States and his reasons therefor.