A bill to insure the enforcement of the criminal laws and the due administration of justice; establish an independent special prosecutor.

Independent Special Prosecutor Act - Directs the Chief Judge of the United States District Court for the District of Columbia to appoint a Special Prosecutor who shall have the duties and powers prescribed in this Act. Authorizes the Chief Judge to appoint a Deputy Special Prosecutor, to assist the Special Prosecutor in the performance of his duties and who, in the event of the disability of the Special Prosecutor or vacancy in the office of Special Prosecutor, shall temporarily become Special Prosecutor until the Chief Judge appoints a Special Prosecutor.

Authorizes the Special Prosecutor to have exclusive jurisdiction, to investigate, as he deems appropriate, and prosecute against and in the name of the United States: (1) offenses arising out of the unauthorized entry into Democratic National Committee headquarters at the Watergate; (2) other offenses arising out of the 1972 Presidential election; (3) offenses alleged to have been committed by the President, Presidential appointees, or members of the White House staff; (4) all other matters referred to the former Special Prosecutor pursuant to regulations of the Attorney General; and (5) offenses relating to or arising out of any such matters.

Empowers the Special Prosecutor with authority with respect to specified matters set forth in this Act; including (1) to determine whether or not to contest the assertion of Executive Privilege or any other testimonial privilege; and (2) to receive appropriate national security clearance and review all evidence sought to be withheld on grounds of national security and if necessary contest in court any claim of privilege or attempt to withhold evidence on grounds of national security.

Provides that all investigations, prosecutions, litigation and grand jury or other proceedings initiated by the former Special Prosecutor shall be continued, as the Special Prosecutor deems appropriate, by him, and he shall become successor counsel for the United States in all such proceedings, notwithstanding any substitution of counsel made after October 20, 1973.

States that the Special Prosecutor shall carry out his duties under this Act within two years, except as necessary to complete trial or appellate action on indictments then pending.

Empowers the Chief Judge to dismiss the Special Prosecutor or the Deputy Special Prosecutor if he determines they have willfully violated the provisions of this Act or committed other extraordinary improprieties, and for no other reason.

Provides that the Special Prosecutor solely shall exercise the powers and perform the duties specified in this Act and that neither the Chief Judge or the President of the United States, nor any other officer of the United States shall have any authority to direct, countermand, or interfere with any action taken by the Special Prosecutor pursuant to this Act. Provides that neither the President of the United States, nor any other officer of the United States, shall have any authority to remove the Special Prosecutor from office.

Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.