Recognition of Jerusalem as the Capital of the State of Israel Act- Expresses the sense of Congress that: (1) the United States should recognize the sovereign status of an undivided Jerusalem as Israel's capital; (2) recognizing Jerusalem as Israel's capital and transferring the U.S. Embassy to Jerusalem from Tel Aviv will send a signal of U.S. commitment to Israel; and (3) the Secretary of State should transfer the Embassy to 14 David Flusser Street, Jerusalem, repurpose or sell the Embassy in Tel Aviv, and deposit any sale proceeds in the Asset Management Account of the Department of State.

Amends the Jerusalem Embassy Act of 1995 to repeal, as of January 1, 2014, the President's authority to waive the limitation on the obligation of funds for acquisition and maintenance of buildings abroad until the U.S. Embassy in Jerusalem has officially opened.