Requires that the Secretary of Defense certify that such a system is operationally effective before the President decides to deploy a missile defense system or to notify Russia of the U.S. intention to withdraw from the ABM treaty.
Directs the President to submit annual reports to Congress on: (1) the threat posed to the United States and its allies by the use of a weapon of mass destruction by a foreign state or transnational group; (2) the cost of the national missile defense system; and (3) whether the allocation of funds for such system will impair priority defense programs.