(Sec. 5) Empowers the Commission to hold hearings, collect relevant materials, and subpoena witnesses.
Applies Federal law to make failure to obey a subpoena by the Commission a misdemeanor crime against Congress punishable by a fine and imprisonment.
Permits Commission meetings or portions to be closed to the public for national security reasons. Directs executive departments, agencies and other entities to provide information to the Commission upon request as authorized by law.
(Sec. 8) Authorizes Executive departments and agencies to issue security clearances to members of the Commission, except that no individual on the Commission shall receive access to classified information who would not otherwise qualify for such a security clearance.
(Sec. 9) Directs the Commission to issue a report to the President and Congress within six months after the first meeting, and a second report a year later, with recommendations for corrective measures.
(Sec. 10) Authorizes appropriations.