What is the term for the power of the executive to veto specific provisions of a bill passed by the legislature?

The term for the power of the executive to veto specific provisions of a bill passed by the legislature is known as the line-item veto. This authority allows a president or governor to reject certain parts of a budget or appropriations legislation without having to veto the entire bill. The line-item veto is particularly useful for controlling spending by cutting out specific expenditures that they find unnecessary or excessive while allowing the rest of the bill to become law.

In contrast, an executive agreement refers to an international agreement made by the president without the need for Senate approval, which does not pertain to the legislative process in the same way as a veto. Legislative initiative is the process by which members of the legislature can propose new laws or amendments, not specifically related to the executive’s power to veto. A pardon, on the other hand, is the president's power to forgive individuals for crimes, which does not involve the legislative process or the ability to veto bill provisions. Thus, the line-item veto specifically addresses how an executive interacts with legislation and allows for targeted rejection of parts of bills, making it the correct answer.