Congressional Bicentennial Scholarship Act

Congressional Bicentennial Scholarship Act - Defines terms for purposes of this Act. Stipulates that each member of the House of Representatives may appoint five citizens from the district such member represents, no more than three of whom belong to the same political party, to serve without pay as a congressional Bicentennial scholarship board for that district.

Authorizes each board to award one Bicentennial scholarship in 1976 to an individual who: (1) is an undergraduate attending or admitted to attend any institution of higher education offering a major course of study in the area of American government or political science; (2) has achieved academic excellence; (3) has demonstrated an intent to concentrate in the study of American government or political science; and (4) has indicated a serious intent to serve with local, State, or Federal government for at least one year following completion of undergraduate study.

Directs the Commissioner of Education to establish and make available to each board guidelines for selection of such individuals. Declares that the scholarship will be awarded for the period of full-time study necessary for the completion of the individual's bachelor degree, but in no case for more than four academic years. Entitles each scholarship recipient to a stipend, the amount of which shall be determined by the awarding board but not to exceed, for any academic year, the cost of such recipient of tuition, fees, books, room, and board.

Requires each board to notify the Secretary of the Treasury of the name of its scholarship recipient, the name of the institution of higher learning which such student attends or will attend, and the amount of the stipend.

Stipulates that each board shall approve the stipend's renewal annually with specified exceptions.

Directs the Secretary to pay the amount specified by such boards to the designated institution of higher education on behalf of the award recipient.