A bill to amend title 10, United States Code, to provide severance pay for regular enlisted members of the U.S. Armed Forces.

Authorizes the payment of severance pay, in amounts not to exceed $15,000 for any one individual member, for regular enlisted members of the United States armed forces.

Provides that specified members discharged on or after July 1, 1973 shall be entitled to payment under this Act. (Adds 10 U.S.C. 1173)