Federal Election Finance Act

Federal Election Finance Act - Title I: National Election Finance Commission - Establishes in the executive branch of the Government an independent commission to be known as the National Election Finance Commission. Provides that the Commission shall be composed of seven members appointed by the President by and with the advice and consent of the Senate.

Empowers the Commission to administer Title I, Title III, Title V, and Title VII of the Federal Election Campaign Act.

Provides that the Commission shall have the power: (1) to conduct investigations with respect to compliance with the Federal Election Campaign Act; (2) to subpoena witnesses and documents; (3) to initiate, prosecute, defend, or appeal any court action in the name of the Commission for the purpose of enforcing Title I, Title III, Title V, and Title VII; and (4) to delegate any of its functions or powers, other than the power to issue subpoenas, to any officer or employee of the Commission.

Provides that, notwithstanding any other provision of law, the Commission shall be the primary civil and criminal enforcement agency for violations of the provisions Title I, Title III, and Title V of the Federal Election Campaign Act. Provides that any violation of such provision shall be prosecuted by the Attorney General only after consultation with, and with the consent of, the Commission.

Sets forth penalties for violation of this Act.

Provides for appointment of a General Counsel and a Director of administrative operations of the Commission.

Sets forth the method for transfer of functions under the Federal Election Campaign Act to the Commission.

Sets forth technical and conforming amendments to the Federal Election Campaign Act.

Title II: Public Financing of Federal Election Campaigns - Revises the Federal Election Campaign Act by adding Title V: Public Financing of Federal Election Campaigns. Establishes on the books of the Treasury of the United States the Election Campaign Finance Fund of which the Secretary of the Treasury shall be trustee. Provides that there shall be appropriated to the Fund from the Treasury such sums as may be necessary to carry out the provisions of this title.

Sets forth the criteria and method for disbursement of funds to major party candidates. Defines "major party" as any political party whose candidate for President placed first or second in popular votes in the most recent general election for such office.

Revises the Federal Election Campaign Act by adding Title VI: Election Campaign Mail. Provides that election campaign mail which is mailed in accordance with this Act shall be considered mailed by a qualified nonprofit organization and as such may be mailed at the same rates of postage at which any other such organization may mail matter. Sets forth criteria for eligibility under this title.

Revises the Federal Election Campaign Act by adding Title VII: Presidential Television Time. Provides that each television station licensed under the provisions of the Communications Act and each television network shall provide broadcast time to any eligible candidate in accordance with the provisions of this title. Sets forth the criteria for eligibility and the method of implementation for this title.

Title III: Contribution Limitations - Provides that no person shall make contributions during any calendar year to or for the benefit of any candidate for the purpose of assisting such candidate to establish his eligibility for disbursement entitlements from the Election Campaign Finance Fund which, in the aggregate, are more than $10.