TABLE OF CONTENTS: Title I: Intelligence Community Generally Subtitle A: Director of Central Intelligence Subtitle B: Deputy Directors of Central Intelligence Subtitle C: The Intelligence Community Subtitle D: Annual Reports Title II: Intelligence Community Management Subtitle A: Intelligence Community Functions Subtitle B: National Foreign Intelligence Program Subtitle C: Personnel Subtitle D: Infrastructure Support Office Subtitle E: Intelligence Community Administration Title III: Intelligence Community Agencies Subtitle A: Central Intelligence Agency Subtitle B: The National Intelligence Evaluation Council Subtitle C: Future of Intelligence Collection Title IV: Department of Defense Functions in the Intelligence Community Subtitle A: Secretary of Defense Subtitle B: Director of Military Intelligence Subtitle C: Defense Intelligence Agency Subtitle D: The Military Departments Subtitle E: Planning and Budgeting Subtitle F: Civilian Intelligence Personnel Policy Title V: National Security Council and Related Boards and Committees Title VI: Technical and Conforming Amendments and Effective Date Intelligence Community Act - Title I: Intelligence Community Generally - Subtitle A: Director of Central Intelligence - Designates the Director of Central Intelligence (DCI) as the: (1) principal advisor to the President and National Security Council (NSC) for intelligence matters related to the national security; and (2) head of the Intelligence Community (IC). Directs the DCI to provide objective and timely intelligence to the President and specified other Government officials. (Sec. 103) Requires the DCI to: (1) develop and present to the President an annual budget for the National Foreign Intelligence Program (NFIP) of the United States; (2) establish requirements and priorities for the collection of national intelligence and manage the collection capabilities of the IC; (3) protect intelligence sources and methods from unauthorized disclosure; (4) promote and evaluate the quality and usefulness of national intelligence to consumers within the U.S. Government; (5) eliminate waste and unnecessary duplication within the IC; (6) have no police, subpoena, or law enforcement powers or internal security functions; (7) have access to all intelligence related to the national security; and (8) coordinate relationships between the IC and the intelligence or security services of foreign governments. Subtitle B: Deputy Directors of Central Intelligence - Establishes: (1) a Deputy Director of Central Intelligence to act for, and exercise the powers of, the Director in the Director's absence or disability; and (2) a Deputy Director of Central Intelligence for Community Management to direct the operations of the Community Management Staff and the Infrastructure Support Office, as well as other community-wide management and research and development functions. (Sec. 124) Provides for the civilian and military status of the DCI and the Deputy Directors. Subtitle C: The Intelligence Community - Provides the various offices, staffs, councils, agencies, services, and other elements of the IC. (Sec. 132) Establishes an Intelligence Community Inspector General Forum to provide a mechanism for sharing information among those Inspectors General whose duties and responsibilities include audit, inspection, or investigation relating to programs and operations of elements within the IC to ensure adequate oversight and the prevention of duplication. Requires the Forum to report to the congressional intelligence committees on the feasibility, costs, and benefits of creating an Inspector General for the IC. Subtitle D: Annual Reports - Requires the DCI to report annually to the Congress on IC activities. Title II: Intelligence Community Management - Subtitle A: Intelligence Community Functions - Establishes a Community Management Staff (Staff) to provide corporate management of specified IC-wide functions. Subtitle B: National Foreign Intelligence Program - Requires the Deputy Director for Community Management to prepare the annual budgets of the NFIP, requiring budget approval from the DCI. Provides for accounting and the identification of constituent components with respect to such budget. (Sec. 222) Authorizes budget execution review by the Staff. Requires the Deputy Director for Community Management to establish an automated accounting system and execution review of the NFIP. (Sec. 223) Prohibits funds from being made available for any intelligence or special activity different from that previously justified to the Congress unless the DCI or the Secretary of Defense notifies the congressional intelligence and appropriations committees of such intent. Limits to five percent of the total NFIP budget for that year the amount of funds that may be transferred for such an activity. Prohibits funds available for drug interdiction or counter-drug activities from being so transferred, except as specifically provided in an appropriations law. (Sec. 224) Authorizes the DCI to transfer funds between NFIP programs and personnel between IC elements for up to one year, with conditions and notification of appropriate congressional committees. (Sec. 225) Prohibits funds available under the NFIP from being reprogrammed by any element of the IC without the prior approval of the DCI, except in accordance with procedures issued by the DCI. Subtitle C: Personnel - Requires the DCI to institute policies and programs within the IC for the appropriate use of IC personnel, including the use of personnel rotation and consolidation, performance evaluation systems, and career development programs. (Sec. 232) Authorizes the DCI to terminate the employment of any officer or employee of the CIA or the Staff when necessary or advisable for U.S. interests. (Sec. 233) Requires the DCI to establish an Intelligence Community Reserve made up of former or retired members of the IC and other qualified individuals who shall return to active civilian IC status in an emergency. Provides for: (1) monetary incentives for eligible individuals; (2) appropriate training and support; (3) service agreements; and (4) the relationship of such service to employment provisions of the Central Intelligence Agency Voluntary Separation Pay Act. Subtitle D: Infrastructure Support Office - Establishes within the IC the Infrastructure Support Office, headed by a Director appointed by the DCI. Requires such Director to: (1) be responsible for administrative and logistical functions relating to infrastructure and services of common concern to elements of the IC, including personnel management, security, community-level training, communications, and automation; and (2) establish standards and information architectures for automation equipment throughout the IC. Subtitle E: Intelligence Community Administration - Provides for the content of nondisclosure agreements executed by persons, other than U.S. employees or officers, who are connected with the conduct of an intelligence or intelligence-related activity. (Sec. 252) Requires the sharing and reporting of counterintelligence and espionage information between the Federal Bureau of Investigation (FBI) and other executive departments and agencies. Authorizes the President to waive such requirements to meet extraordinary national security interests, requiring notification of the congressional intelligence committees within 30 days of such waiver. Requires the FBI Director to report annually to such committees and the House and Senate Judiciary Committees with respect to compliance with the information sharing requirements. (Sec. 253) Requires the DCI to direct that elements of the IC, when compatible with national security interests and fiscally sound, award contracts in a manner that would maximize the procurement of products in the United States. Title III: Intelligence Community Agencies - Subtitle A: Central Intelligence Agency - Establishes the Central Intelligence Agency (CIA) as the principal all-source national intelligence analytical agency, to be headed by the DCI. Requires the DCI to: (1) correlate and evaluate intelligence related to the national security; (2) disseminate such intelligence; (3) coordinate and manage all IC human intelligence activities; (4) coordinate analyses conducted by the IC and establish procedures for collaborative all-source analysis; (5) produce national intelligence estimates; (6) manage the acquisition and incorporation of all-source intelligence into the community all-source analytical process; and (7) collect, use, and manage national intelligence collected through human sources. (Sec. 304) Requires the Secretary and the DCI to enter into an agreement for the transfer from the Secretary to the DCI of the human intelligence collection activities of the Defense Human Intelligence Service. Subtitle B: The National Intelligence Evaluation Council - Establishes within the IC the National Intelligence Evaluation Council to evaluate IC-wide collection and production of intelligence, as well as the requirements and resources for such collection and production. Requires the DCI to provide for necessary Council staffing. Subtitle C: Future of Intelligence Collection - Requires the DCI and the Secretary to arrange for a study on the future of intelligence collection, with a view toward managing collection resources in a more consolidated, synergistic manner. Requires the panel formed for such study to report results to the DCI, who shall forward such report to the President, the Secretary, and the congressional intelligence committees. Title IV: Department of Defense Functions in the Intelligence Community - Subtitle A: Secretary of Defense - Requires the Secretary to perform such intelligence functions as may be directed by the President. (Sec. 402) Requires the Secretary to ensure that the budget elements of IC within the Department of Defense (DOD) for any fiscal year are adequate to satisfy overall DOD intelligence needs. (Sec. 403) Directs the Secretary to eliminate waste and unnecessary duplication among DOD intelligence activities and to ensure: (1) appropriate implementation of the policies and resource decisions of the DCI by elements of DOD within the NFIP; (2) compatibility of DOD tactical intelligence activities with related activities under the NFIP; (3) that elements of the IC within DOD are responsive and timely in satisfying the needs of operational military forces; (4) that DOD intelligence activities, when appropriate, are conducted jointly and cooperatively with elements of the IC outside DOD; and (5) the continued operation and organization of signals intelligence activities, of imagery collection, processing, and exploitation activities, and of overhead reconnaissance systems. Requires the Secretary to appoint, upon the recommendation of the DCI, the head of the Central Imagery Office within DOD. Authorizes the Secretary to use appropriate DOD elements to perform intelligence functions identified under this Act. Subtitle B: Director of Military Intelligence - Establishes the position of Director of Military Intelligence as the senior military intelligence adviser to the Secretary. Requires such Director to act as the: (1) Director of the Defense Intelligence Agency; (2) program manager for the Joint Military Intelligence Program (JMIP); and (3) program coordinator for activities of DOD known as Tactical Intelligence and Related Activities (TIARA). (Sec. 423) Requires such Director to be accountable in matters relating to the collection and prosecution of national intelligence and responsible for: (1) ensuring that the intelligence requirements of the Secretary and the Joint Chiefs of Staff (JCS) are met; (2) the development and submission of the JMIP for any fiscal year; and (3) the development and submission of the TIARA budget, as well as the budget for the NFIP. Subtitle C: Defense Intelligence Agency - Establishes within DOD the Defense Intelligence Agency, headed by the Director of Military Intelligence, to produce and disseminate timely and objective military and military-related intelligence based on all sources available to the IC. Subtitle D: The Military Departments - Requires the Secretaries of the military departments to maintain sufficient capabilities to collect and produce intelligence to meet the requirements of the DCI, the Secretary, or the JCS Chairman, as well as the specialized intelligence requirements of the various military departments. Requires such Secretaries to maintain such capabilities jointly as much as possible, and in the most cost-effective and efficient form. Subtitle E: Planning and Budgeting - States that the JMIP consists of those DOD programs, projects, and activities that are intended to provide intelligence, surveillance, and reconnaissance capabilities that support multiple defense-wide or joint theater-level consumers. Outlines specific JMIP programs. (Sec. 452) States that TIARA programs, projects, and activities are those which provide intelligence, surveillance, and reconnaissance capabilities that are unique and organic to one of the military services at the component level or below. (Sec. 453) Prohibits the Secretary from adding to or removing program elements from the JMIP or TIARA for any fiscal year unless the Secretary includes notice of such change within the justification materials submitted to the congressional intelligence committees for the preceding fiscal year. Subtitle F: Civilian Intelligence Personnel Policy - Repeals current Federal provisions relating to the personnel management of certain senior intelligence positions within DOD. Authorizes the Secretary to: (1) establish such excepted service positions that may be designated as Intelligence Senior Level positions; (2) appoint appropriate individuals to such positions; and (3) fix the compensation for such individuals, including the use of a prevailing rate system and allowances based on living costs and environment. Provides for the establishment of appropriate intelligence positions within the Senior Executive Service of the Federal Government. Authorizes the Secretary to use time-limited appointments when hiring and appointing an employee to certain prescribed positions within an intelligence component of DOD. Provides employment termination authority, to be exercised by the Secretary when considered to be in the best interests of the United States. Requires the Secretary to notify the Congress of any regulations prescribed to exercise the authorities provided in this subtitle. Provides a merit pay system for employees of the Defense Intelligence Agency (current law) and the Central Imagery Office. (Sec. 482) Authorizes the Secretary to allow the Director of the National Security Agency to permit eligible employees to retire early from service, under specified conditions. Requires repayment of an appropriate amount when an individual accepts new employment with the United States after receiving a lump-sum payment for such early retirement. Title V: National Security Council and Related Boards and Committees - Includes within the NSC only the President, Vice President, Secretary of State, and Secretary of Defense. Allows additional officers designated by the President to attend NSC meetings. Requires the NSC to advise the President with respect to the integration of domestic, foreign, and military policies relating to the national security so as to enable the military services and other Federal departments and agencies to cooperate more effectively in national security matters. (Sec. 502) Establishes within the NSC the Committee on Foreign Intelligence to: (1) establish the overall requirements and priorities for the IC; and (2) regularly assess the effectiveness of the IC in performing its responsibilities under the National Security Act of 1947 and the Intelligence Community Act. Requires the Committee to meet at least semiannually with the congressional intelligence committees to conduct a comprehensive, global, strategic intelligence review. (Sec. 503) Establishes within the NSC a Committee on Transnational Threats to coordinate and direct U.S. Government activities relating to combating transnational threats. Title VI: Technical and Conforming Amendments and Effective Date - Makes technical and conforming amendments to the National Security Agency Act of 1959, Federal employee provisions, the National Security Act of 1947, and prior year intelligence authorization and defense appropriations Act. (Sec. 605) Abolishes the National Intelligence Council.