A resolution to establish a Special Committee on the Termination of the National Emergency.

Establishes a special committee of the Senate to be known as the Special Committee on the Termination of the National Emergency.

Provides that such special committee shall be composed of eight Members of the Senate equally divided between the majority and minority parties to be appointed by the President of the Senate, four of whom shall be members of the Committee on Foreign Relations.

Requires the special committee to conduct a study and investigation with respect to the matter of terminating the national emergency proclaimed by the President of the United States on December 16, 1950, and announced in Presidential Proclamation Numbered 2914, dated the same date.

Provides that in carrying out such study and investigation the special committee shall: (1) consult and confer with the President and his advisers; (2) consider the problems which may arise as the result of terminating such national emergency; and (3) consider what administrative or legislative actions might be necessary or desireable as the result of terminating such national emergency, including consideration of the desirability and consequences of terminating special legislative powers that were conferred on the President and other officers, boards, and commissions as the result of the President proclaiming a national emergency.

Sets forth the authority of the special committee.

Provides that for the period from January 3, 1973, through February 28, 1974, the expenses of the special committee under this resolution shall not exceed $175,000 of which amount not to exceed $25,000 shall be available for the procurement of the services of individual consultants, or organizations of such consultants.

Requires the special committee to make a final report of its findings to the Senate not later than February 28, 1974.