A bill to require (1) the enactment of special legislation to continue the expenditure or obligation of funds on any major civil acquisition initiated after January 1, 1982, whenever the cost of such acquisition has increased or, on the basis of estimates, will increase over the initial estimate when the project was justified to the Congress by 25 per centum or more, and (2) reporting of status information on all major civil acquisitions.

Requires the Office of Management and Budget (OMB) to determine cost growth statistics and to compile status information on major civil acquisitions. Defines "major civil acquisitions" as all construction, acquisition, and procurement projects involving more than $50,000,000 in Federal funds.

Directs OMB to require agencies to report, on a quarterly basis and for subsequent transmital to Congress, the data OMB needs to determine such statistics and compile such information, including: (1) the initial and current cost estimates of a project, with an explanation of any cost growth of 25 percent or more and a description of actions taken to control cost growth; (2) the originally estimated completion date and the actual or currently estimated date, with an explanation for any difference exceeding six months; and (3) any changes in the size or quantity of a project, with an explanation for the changes.

Directs OMB to: (1) notify Congress whenever it determines that the cost of a project has increased or will increase by 25 percent or more (discounting inflation); and (2) provide Congress with certain information about project costs. Prohibits the obligation or expenditure of additional funds for the project after such notification unless Congress enacts a joint resolution authorizing continued obligations and expenditures for one year.