Select Commission to Advise on Reforming Elections Act

Select Commission to Advise on Reforming Elections Act - Establishes the Select Commission to Advise on Reforming Elections to study the laws relating to the financing of campaigns for Federal elections and to report and recommend legislation to reform those laws.

(Sec. 6) Requires the Commission to submit a report to the President, the Speaker and minority leader of the House of Representatives, and the majority and minority leaders of the Senate on its activities. Directs the Commission, as specified, to submit to the President, the Speaker and minority leader of the House of Representatives, and the majority and minority leaders of the Senate, any recommendations for changes in campaign finance laws to which seven or more Commission members may agree. Prohibits the submission of recommendations by the Commission after July 15, 1998.

(Sec. 7) Requires that when the Commission submits any recommendation for changes in campaign finance laws, those Commission members concurring in the recommendation shall include legislation to implement the recommendation. Provides for expedited congressional consideration of any legislation introduced which implements a recommendation of the Commission.

(Sec. 8) Terminates the Commission after the later of: (1) the submission of its report; or (2) the submission of its recommendations.