Resolved, that (a) there is established a select committee of the Senate to be known as the Select Committee to Study Governmental Operations with Respect to Intelligence Activities (hereafter referred to in this resolution as the "select committee").

Establishes a select committee of the Senate to be known as the Select Committee to Study Governmental Operations with Respect to Intelligence Activities.

States that it shall be the function of the select committee to conduct an investigation of all matters relating to: (1) the operations of the United States Government with respect to domestic and foreign intelligence activities; and (2) the past effect and future role of such activities of agencies of the United States Government within the United States and overseas.

Sets forth the powers of the Committee. Requires the committee to make a final report to the Senate on its findings and recommendations within two years.

Stipulates that the expenses of the special committee shall not exceed $500,000 from the date this resolution is agreed to through February 28, 1976.