A bill to provide for the establishment of energy conservation targets for the Nation and for each State.

Directs the President to establish monthly National and State emergency energy conservation targets under the Emergency Energy Conservation Act of 1979 for gasoline, diesel fuel and home heating fuel.

Exempts the President from the requirement that he make the finding that a severe energy supply interruption exists or is imminent as a prerequisite to establishing such targets, as required under such Act.

Requires that such targets achieve a 10 percent reduction of petroleum imports no later than six months after the date such targets are established and a 20 percent reduction no later than twelve months after such date. Limits the duration of such targets to 18 months, notwithstanding the authority of the President to modify the duration of such targets under such Act.