To establish a Buy-American Fund to encourage American consumers to purchase products bearing a "made in America" label, to create guidelines for the use of "made in America" labels, and to protect against the misuse of such labels, and for other purposes.

Establishes in the Treasury the Buy American Fund. Directs the Secretary of Commerce to make grants from the Fund to persons to create and market advertisements to encourage American consumers to purchase products bearing made-in-America labels. Authorizes appropriations.

Prohibits a product from bearing a label which states that it was made in America unless: (1) it has been registered with the Department of Commerce; and (2) the Secretary has determined that 60 percent of the product was manufactured, and its final assembly occurred, in the United States. Requires products with made-in-America labels to be registered with the Department of Commerce. Sets forth penalties for fraudulent use of such labels.