Providing for the establishment of a Joint Committee on Intelligence.

Establishes the Joint Committee on Intelligence. Declares that such Committee has exclusive legislative jurisdiction with respect to any intelligence activity of the Federal Government and authorizations of appropriations for specified intelligence agencies and intelligence-related activities. Directs the Joint Committee to review and study on a continuing basis any intelligence activity conducted by any Federal agency or department. Prohibits any Member of Congress or committee from disclosing information received from the Joint Committee except in a closed session of the House of Representatives or the Senate. Requires a Federal agency or department which conducts any intelligence activity to keep the Joint Committee fully and currently informed and, if requested, to furnish any periodic reports relating to such activities. Directs the Joint Committee to: (1) classify its information and records according to standards used generally by the executive branch; and (2) establish guidelines under which such information and records may be maintained, used by the Joint Committee's staff, and made available to any Member of Congress. Authorizes public disclosure of information possessed by the Joint Committee if it is determined that such disclosure would serve the public interest. Sets forth procedures relating to public disclosure of classified security information received from the executive branch. Directs the Joint Committee to prevent the unauthorized disclosure of information in its possession. Repeals rule XLVIII of the Rules of the House of Representatives relating to the establishment of the Permanent Select Committee on Intelligence.