A bill to amend chapter 5, subchapter II of title 5, United States Code, to provide for improved administrative procedures.

Exempts ratemaking proceedings from certain procedural requirements which previously pertained to both rulemaking and ratemaking.

States that matter pertaining to a military or foreign affairs function of the United States shall not be exempt from public rulemaking requirements unless the matter is specifically authorized to be kept secret in the interest of national defense or foreign policy and is in fact so properly classified. Makes rulemaking concerning matters of public property, loans, grants, benefits or contracts subject to public participation requirements of other rulemaking proceedings. Eliminates the necessity of documenting reasons for finding that public notice and public procedure for any given rulemaking proceeding would be impracticable or contrary to public interest.