Requires each intelligence community element, under procedures prescribed by the Director of Central Intelligence and the Attorney General, to share homeland security information, with credibility assessments, with State and local personnel. Directs that: (1) such procedures include existing information sharing systems; and (2) each element of the Federal intelligence and law enforcement communities, as well as specified congressional committees, have access to each information sharing system and the information within it.
Directs the President to prescribe procedures under which Federal agencies may share classified homeland security information with appropriate State and local personnel, including through security clearance investigations, non-disclosure agreements, and increased use of information-sharing partnerships.