A bill to amend the Cape Cod National Seashore Act, as amended, to provide additional authority to the Secretary of Interior to carry out the purposes of the Act, to provide a reserve fund.

Amends the Cape Cod National Seashore Act to prohibit the allowance of use and occupancy privileges to property owners who have constructed homes during a period of suspension of the Secretary of the Interior's authority to acquire land by condemnation.

States that size and design requirements must be included in new standards issued by the Secretary for zoning by-laws. Directs the Secretary to review all existing zoning by-laws to determine whether they are consistent with such standards and to report to specified Congressional committees on necessary amendments to such by-laws.

Empowers the Secretary to take action on any matter relating to the seashore if the Cape Cod National Seashore Advisory Commission is unable to make a recommendation to the Secretary within 45 days after such matter has been presented to it.

Authorizes an additional $10,000,000 to be appropriated to complete acquisition within the seashore. Sets aside $5,000,000 in a reserve fund for emergency use by the Secretary to acquire property threatened by immediate development.