Requires that, commencing 120 days after the date of enactment of this Act, the deployment of a unit or individual of the Armed Forces for Operation Iraqi Freedom shall be limited as follows: (1) in the case of a unit or individual of the Army (including the Army National Guard or Army Reserve), the unit or individual may not be deployed, or continued or extended on deployment, for more than 12 consecutive months; and (2) in the case of a unit or individual of the Marine Corps (including the Marine Corps Reserve), the unit or individual may not be deployed, or continued or extended on deployment, for more than seven consecutive months.
Authorizes the President to waive the limitation in the event of a requirement for the use of military force in time of national emergency, following consultation with the congressional defense committees.