To revive the system of parole for Federal prisoners, and for other purposes.

Makes a prisoner serving a definite term or terms of more than one year eligible for release on parole after serving one-third of such terms, or after serving ten years of a sentence of over 25 years (or life). Subjects a prisoner convicted under District of Columbia (DC) law to the guidelines used by the former DC parole board.

Grants courts the authority to: (1) designate a minimum term at the expiration of which the prisoner shall become eligible for parole, which may be less than, but not more than, 10 years; or (2) fix the maximum sentence to be served.

Sets forth provisions regarding: (1) parole determination criteria; (2) conditions of parole; (3) jurisdiction of the Commission; (4) early termination of parole; (5) aliens subject to deportation after parole; (6) summonses to appear and warrants for retaking parolees; (7) revocation of parole for violators; (8) appeals of disputes over the time of eligibility for release, parole denials, conditions, and revocations; (9) good time credits; and (10) compassionate release requirements.

Grants the Commission jurisdiction over the parole of persons whose parole was governed by the Parole Commission Phase-Out Act of 1996 or by the Balanced Budget Act of 1997.