Congressional Campaign Financing Act

Congressional Campaign Financing Act - Entitles to campaign payments congressional candidates who agree to certain reporting and recordkeeping procedures and certify that (1) they and their authorized committees will not incur campaign expenses in excess of certain limitations and (2) they have received contributions in excess of a certain sum and no person has given more than $100 toward the amount so certified.

Sets the amount of payments to an eligible candidate at the amount of contributions received up to a specified maximum. Stipulates that sums given by any one contributor totalling over $100 shall be disregarded for purposes of matching grants.

Restricts use of funds forwarded under this Act to defraying campaign expenses either directly or through repayment of campaign loans.

Amends the Federal Election Campaign Act of 1971 to specify spending limits for candidates receiving payments under this Act. Waives such limits for sums in excess of the limit imposed for candidates receiving payments.

Directs the Secretary of the Treasury to establish a separate Congressional Election Payment Account in the Presidential Election Campaign Fund and to deposit certain sums in such account in accordance with specified guidelines.

Requires repayment of excess payments and unexpended payments. Penalizes use of funds for other than campaign purposes. Authorizes the Federal Election Commission to institute repayment actions in district courts.

Specifies the administrative authority of the Commission in carrying out this Act.