Citizens Commission on Economic Regulatory Oversight Act of 1979

Citizens Commission on Economic Regulatory Oversight Act of 1979 - Establishes the Citizens Commission on Economic Regulatory Oversight to: (1) evaluate the functioning of the independent economic regulatory agencies; (2) evaluate economic regulation generally; and (3) present administrative and legislative recommendations to Congress.

Requires the Commission to conduct an analysis: (1) of the effectiveness of existing regulations; (2) to determine which regulatory agencies should be altered or abolished; (3) of the variations in agency procedural requirements; and (4) of economic and tax incentives or penalties as alternatives to Federal regulations.

Requires the Commission to submit to the President and to Congress a final report of its findings and recommendations not later than 18 months after the appointment of its members. Disbands the Commission 60 days after such final report is submitted.