A bill to amend title 10, United States Code, to authorize the selective continuation of certain regular commissioned officers on the active lists of the Army, Navy, Marine Corps, and Air Force upon recommendation of a selection board, and for other purposes.

Provides that each regular officer on the active list of the Army, Navy, Marine Corps, or Air Force serving under either a temporary or permanent appointment in the grade of: (1) lieutenant colonel or commander (Navy) who has failed of selection for temporary or permanent promotion to the grade of colonel or captain (Navy) two or more times and whose name is not on a promotion list; or (2) colonel or captain (Navy) who has served at least four years in grade and whose name is not on a promotion list; may be considered for continuation on the active list by selection boards.

Directs the Secretary of the Military department concerned to: (1) whenever the needs of the service require, convene selection boards to recommend certain officers for continuation on the active list in accordance with the provisions of this chapter; and (2) prescribe regulations for the administration of this chapter.