A bill to amend the Trading with the Enemy Act in order to terminate the Office of Alien Property, and for other purposes.

Amends the Trading with the Enemy Act to delete the provisions which set forth the duties of the Office of Alien Property. Directs the Attorney General to cover into the Treasury, to the credit of miscellaneous receipts, all sums from property vested in or transferred to the Attorney General under the Trading with the Enemy Act: (1) which is received after enactment of this Act; or (2) which is received before such time and which had not yet been covered into the Treasury, other than any such sums which are the subject matter of a judicial action or proceeding.

Deletes the provision requiring an annual report on all proceedings under such Act.