A bill to modify the insanity defense in the Federal courts.

Amends the Federal criminal code to make it a defense to a Federal prosecution that the defendant, as a result of mental disease or defect, lacked the state of mind required as an element of the offense charged.

Authorizes a verdict of "not guilty only by reason of insanity" for any criminal defendant who raises the issue of insanity by notice as provided by Rule 12 of the Federal Rules of Criminal Procedure.

Requires a court to sentence a defendant found not guilty only by reason of insanity to imprisonment for a period comparable to the period of imprisonment to which the defendant would have been sentenced on a finding of guilty.

Requires that any person found not guilty only by reason of insanity be committed to a facility until eligible for release. Requires the court to commit such person to the custody of the Attorney General upon a finding by clear and convincing evidence that the the person is currently suffering from a mental disease or defect and his release would create a significant risk of bodily injury to another person or serious damage to property of another.

Directs the Attorney General to release such person to a State which will assume responsibility for his custody and treatment or otherwise to hospitalize such person in a suitable facility.

Requires the court to hold a hearing upon the certification by the director of the facility that such person's release will no longer create significant risk of injury or property damage. Directs the court to order the discharge of a person who is found to have recovered. Requires that such a person, after release from hospitalization, complete the remaining portion of his sentence in an appropriate Federal correctional facility.