A bill to provide for reactivation of registration and classification under the Military Selective Service Act, to provide for induction of not more than 200,000 individuals per year for training and service in the Individual Ready Reserve, to provide for educational assistance for individuals so inducted, and for other purposes.

Directs the President to resume the registration of individuals pursuant to the Military Selective Service Act.

Amends the Military Selective Service Act to state that the Selective Service System should remain administratively independent of any other agency, including the Department of Defense.

Removes the restriction that only males may be subject to the selective service.

Stipulates that the President shall provide for the induction of not more than 200,000 persons into the armed forces in each fiscal year beginning with fiscal year 1980 for service in the Individual Ready Reserve of the Selected Reserve of the Ready Reserve of the Army Reserve. Stipulates that individuals so inducted shall be required to serve not less than three months of active duty for training.

Stipulates that a random sequence drawing shall be conducted annually for inductment for all registrants who are 19 years old.

Stipulates that effective upon the enactment of authority to induct persons into the armed forces no new deferment will be granted to persons enlisting in any reserve component of the armed forces or the Ready Reserve of any such reserve component.

Stipulates that the entire Selective System shall be required to annually participate in training to stimulate emergency mobilization procedures.

Exempts the Selective Service System from executive reorganization orders.

Entitles individuals inducted into the Individual Ready Reserve pursuant to this Act to the same educational benefits as those that enlisted members of the Selected Reserve are entitled.