Federal Elections Commission Act

Federal Elections Commission Act - Establishes as an independent establishment of the executive branch a six member Federal Elections Commission. Sets forth the investigative and administrative powers of the Commission under the Federal Elections Campaign Act of 1971.

Transfers the powers of the Secretary of the Senate, the Clerk of the House, and the General Accounting Office involving receiving and publishing reports of campaign contributions under the Act to the Commission.

States that each candidate for a Federal election shall designate one political committee as his central campaign committee which shall receive all reports made by any other political committee accepting contributions or making expenditures for the purpose of influencing the nomination for election, or election, of the candidate who designated it as his central campaign committee. Requires each such central campaign committee to furnish all reports required by the Federal Election Campaign Act of 1971 to the Federal Elections Commission.

Requires each political committee which anticipates receiving contributions during the calendar year in an aggregate amount exceeding $1,000 to register with the Commission.

Provides that reports by political committees on convention financing shall be made to the Commission.