Presidential Campaign Financing Act

Presidential Campaign Financing Act - Increases the amounts allowable under the Internal Revenue Code for political contribution credits and deductions. Sets forth the procedure for designation of income tax payments to the Presidential Election Campaign Fund.

Directs the Secretary of the Treasury to give publicity to the Presidential Election Campaign Fund, including prominent notice in explanatory material sent to individuals, posters, and the use of the media.

Requires that, in order to be eligible to receive any payment, the candidates of a major, minor, or new party in a presidential election shall certify to the Comptroller General, under penalty of perjury, that they and their authorized committees will not incur qualified campaign expenses in excess of the $30,000,000 limit. Provides criminal penalties for excess campaign expenses and contributions.

Presidential Primary Matching Payment Fund Act - Sets forth the definitions used in this Act, including that of "qualified campaign expense." Prescribes the requirements for eligibility to receive payments under this Act, including that a candidate, in writing, agree to furnish to the Comptroller General any evidence he may request of qualified campaign expenses.

Provides that each candidate in the Presidential primaries is entitled to matching payments from the Treasury for the first $100 or less received from each individual contributor.

States that no candidate may spend more than $15 million in his campaign for the Presidential nomination.

Establishes the "Presidential Primary Matching Payment Fund." Authorizes to be appropriated out of any money in the Treasury not otherwise appropriated, such sums as may be necessary.

Requires each candidate to furnish the Comptroller General with a detailed statement on proposed expenses. Directs the Comptroller General to report to the Congress on campaign expenses incurred by the candidates. Details the content of such report.

Provides for the participation by the Comptroller General in judicial proceedings under this Act. Imposes criminal penalties for exceeding the overall primary spending limits, and for unlawful use of payments, false statements to the Comptroller General, and kickbacks and illegal payments.

Requires each candidate to designate one political committee as his central campaign committee, and allows specified candidates to designate one political committee in each State in which he is a candidate as his State campaign committee for that State. Directs each candidate to designate one National or State bank as his campaign depository. Requires the central campaign committee of that candidate, and any other political committee authorized by him to receive contributions or to make expenditures on his behalf to maintain a checking account at the depository so designated by the candidate and shall deposit any contributions received by that committee into that account.

Provides that a political committee may maintain a petty cash fund out of which it may make expenditures not in excess of $50 to any person in connection with a single purchase or transaction. States that no political committee shall receive a contribution, or contributions in the aggregate, from any person of $50 or more other than in the form of a check drawn on the account of the person making the contribution.

Provides that no person may make any contribution during any calendar year to or for the benefit of any candidate in excess of $3,000 to such candidate.

Prescribes penalties for embezzlement or conversion of political contributions.