Independent Counsel Commission Act

Independent Counsel Commission Act - Establishes the Independent Counsel Commission to conduct a preliminary investigation with respect to specified covered persons, including the President, Vice President, or a Member or Congress (if the Commission determines it is in the best interest of the public) whenever the Commission receives information sufficient to constitute grounds to investigate whether such persons may have violated any Federal criminal law other than a violation classified as a Class B or C misdemeanor or an infraction.

Requires the Commission to consider the specificity of the information received and the credibility of its source as factors in determining whether grounds to investigate exist. Provides for preliminary and subsequent investigations. Requires a final report to Congress on findings with respect to the criminal liability of the subject of the investigation.