To amend the Atomic Energy Act of 1954 to require congressional approval of agreements for peaceful nuclear cooperation with foreign countries, and for other purposes.

Amends the Atomic Energy Act of 1954 to require a joint congressional resolution of approval for a subsequent arrangement to an agreement for peaceful nuclear cooperation (section 123 agreement). (Under current law such an agreement becomes effective unless Congress disapproves it within a specified time period.)

Directs the President to keep the House Committee on Foreign Affairs and the Senate Committee on Foreign Relations fully informed of any initiative or negotiations relating to a new or amended section 123 agreement.