A bill to provide certain amounts of broadcast time for candidates for President and Vice President of the United States.

Provides that the facilities of each broadcast station and each community antenna television system shall be made available at specified time periods and rates for the purpose of political broadcasts by presidential candidates qualifying to have their names placed on the ballot in a specified number of States.

Provides that such broadcast time shall be used only for presentations which consist primarily of a substantial live appearance by candidates in a format intended to promote rational political discussion, clarify major campaign issues, or provide insights into the abilities and personal qualities of the candidates.

Provides for payment for such broadcasting time by the United States after a broadcast licensee has filed a statement of time, rate, and total amount due with the Comptroller General.

Exempts such expenditures from campaign spending limitations.

Provides that the Federal Communications Commission shall make regulations to insure cooperation by broadcasters.