Intelligence Oversight Act

Intelligence Oversight Act - States that the purpose of this Act is to establish a standing committee of the Senate to oversee and make continuing studies of the intelligence activities and programs of the United States Government. Establishes the Committee on Intelligence Activities, consisting of nine members limited to terms of no more than six years.

Requires that all proposed legislation and other matters relating to the Central Intelligence Agency and intelligence activities of all other departments and agencies of the Government shall be referred to the committee, which shall have exclusive jurisdiction over such matters. States that to the extent that the jurisdictions of other standing committees of the Senate include those matters, the jurisdiction of the other committees shall be concurrent with that of the Committee on Intelligence Activities.

Prohibits the unauthorized disclosure of intelligence information held by the Committee, but permits disclosure of information when the Committee deems that the public interest requires disclosure. States that if the Committee wishes to disclose information requested to be kept secret by the President, the President shall be notified ten days before such proposed disclosure. Provides that if the President replies that the threat to national security posed by such disclosure outweighs the public interest in such disclosure and that the question of disclosure is so vital as to require a decision by the full Senate and if the Committee agrees concerning the importance of the issue, the question of disclosure shall be submitted to the Senate to be acted on within three legislative days.

Requires the head of each department and agency of the United States to fully inform the Committee with respect to current intelligence activities conducted by such entity.

Prohibits any significant covert or clandestine activity unless the Committee is informed of such activity before it takes place. Exempts from such prohibition necessary intelligence collection and activities during military operations pursuant to a declaration of war or exercise of powers by the President under the War Powers Resolution.