Peace Act

Peace Act - Title I: Department of Peace - Establishes the Department of Peace within the executive department of the Government to promote the advancement of peace in this Nation and throughout the world. Provides for the appointment of a Secretary of Peace, Under Secretary, four Assistant Secretaries, and a General Counsel by the President with the advice and consent of the Senate.

Requires the Department of Peace to make recommendations to the President for the pacific settlement of current international controversies in which the United States Government has or claims an interest.

Provides for the transfer of functions of certain other agencies to the Department of Peace.

Gives the Secretary powers to administer and carry out the provisions and objectives of this Act.

Requires the Secretary to make an annual written report to the President for submission to the Congress on the activities of the Department for each year.

Continues in effect all orders, determinations, rules, and proceedings, regulations, permits, contracts, etc., which are in effect at the time of this Act and transferred to the Department of Peace from another agency.

Directs the Secretary to submit to the Congress within two years after the enactment of this Act a proposed codification of all laws which contain functions transferred to the Secretary.

Title II: International Peace Academy - Establishes an "International Peace Academy" within the Department of Peace to furnish training and instruction to prepare U.S. citizens for service in positions in the field of international understanding and peace.

Provides for the appointment of officers, staff, and instructors by the Secretary as the Academy may require.

Creates a Board of Trustees consisting of 15 members to advise on the operation of the Academy. Requires the Board to make an annual written report to the President of its action and recommendations pertaining to the Academy within 60 days after its annual visit to the Academy.

Grants admission to the Academy to 150 students on the basis of merit who are U.S. citizens and have received a bachelor's degree from a college or university. Grants fellowships and travel and transportation allowances to students of the Academy.

Requires each student selected for admission to sign an agreement to complete the course of instruction and to accept an appointment and service as an officer or employee of the United States or employment with an international peace organization.

Authorizes appropriations to carry out this title. Gives the Academy power to acquire and hold real and personal property.

Title III: Joint Committee on Peace and International Cooperation - Establishes a Joint Committee on Peace composed of 14 members of Congress (7 from each House) to: (1) make a continuing study of matters relating to the Department of Peace, (2) study means of coordinating programs, and (3) file an annual report with Congress containing its findings and recommendations with respect to the Department of Peace. Gives the Joint Committee power to hold hearings.