To provide for the posthumous commission as a captain in the regular Army of Milton Holland, who, while sergeant major of the 5th Regiment, United States Colored Infantry, was awarded the Medal of Honor for gallantry during the Civil War.

Deems Milton Holland (who, while a sergeant major of the 5th Regiment, United States Colored Infantry, was awarded the Medal of Honor for gallantry during the Civil War) to have held the grade of captain in the regular Army, effective as of September 29, 1864, and continuing until his separation from the Army.

Prohibits any entitlement to bonuses, gratuity, pay, or allowances because of  such posthumous commission.