A bill to limit the authority of the Veterans' Administration and the Office of Management and Budget with respect to the construction, acquisition, alteration, or closing of veterans' hospitals, and to prohibit the transfer of Veterans' Administration real property unless such transfer is first approved by the House Committee on Veterans' Affairs.

Provides that no appropriation shall be made to construct any veterans' hospital or domiciliary facility or to acquire any such facility involving an expenditure in excess of $100,000, and no appropriation shall be made to alter any such facility involving an expenditure in excess of $500,000, if such construction, alteration, or acquisition has not been approved by a resolution adopted by the Committee on Veterans' Affairs of the House of Representatives.

Requires the Administrator of the Veterans' Administration to submit to the Congress a prospectus of each proposed project to alter any hospital or domiciliary facility involving an expenditure in excess of $100,000 but equal to or less than $500,000.

States that no hospital or domiciliary facility over which the Administrator has direct and exclusive jurisdiction and which is in operation on the date of enactment of this Act shall be closed unless such closing is approved by a resolution adopted by the Committee on Veterans' Affairs of the House of Representatives.