A bill to limit the expenditure of public funds for the construction of improvements for the physical safety and security of the President to only one private residence.

Provides that, notwithstanding any other provision of law, no appropriated funds shall be expended for the construction of improvements: (1) at more than one private residence of the President; or (2) at any private property not owned by the President for his physical safety and security.

States that no funds shall be spent at any Presidential residence for purposes other than providing for his physical safety and security.

Stipulates that within thirty days after the President ceases to hold office, each improvement made with appropriated funds for his private residence for his physical safety and security shall be removed by, and returned to, the Government, unless the Comptroller General of the United States determines that such improvements are incapable of being dismantled without significantly decreasing the value of such residence or the improvements. Provides that where the Comptroller General determines that improvements made to the private residence of the former President shall remain affixed to such residence and that value has been added due to such improvements, the former President shall make reasonable payment therefor, as determined by the Comptroller General.

Directs that not less than thirty days prior to the date of an expenditure by any Federal agency for the physical safety and security of the President a report by such agency shall be made to both Houses of Congress on the same day while both Houses are in session. Provides that such report shall contain a full description of each item and a specific explanation as to how such item will provide for the physical safety and security of the President.