States that it is U.S. policy to: (1) undertake a sustained diplomatic effort to engage the governments of regional nations on issues that impact the situation in Iraq; (2) continue and expand U.S. direct bilateral talks with nations neighboring Iraq on issues of mutual interest; (3) support the goals specified in the International Compact for Iraq; and (4) encourage the increased engagement of international organizations in working to achieve stability and security in Iraq.

Directs the President to appoint a Presidential Special Envoy for Iraq Regional Security whose duties shall include: (1) discussions with the government of Iraq and governments of neighboring countries to support Iraq's efforts to achieve peace and stability and to take necessary actions to prevent regional instability, including organizing a related Iraq Support Group; and (2) working with Iraqi officials and other domestic stakeholders to organize a forum for negotiations on national reconciliation.

Directs the Secretary of State to organize an international donors conference to solicit additional international commitments of funding and support for reconstruction and economic development in Iraq.

Directs the President direct the U.S. Permanent Representative to the United Nations to seek a Security Council resolution that: (1) supports regional and international cooperation in promoting stability and development in Iraq; (2) encourages increased support for efforts to rebuild and expand Iraq's economy and critical infrastructure; and (3) authorizes renewed U.N. assistance to promote security and political reconciliation in Iraq, including a commitment to an increased U.N. role following the beginning of a U.S. Armed Forces' redeployment from Iraq.