Independent Counsel Limited Powers Act

[AI summary unavailable — showing source text] Independent Counsel Limited Powers Act - Amends the independent counsel statute (the Act) to grant subpoena authority to the Attorney General in conducting preliminary investigations with respect to application for the appointment of an independent counsel. Modifies provisions of the Act regarding: (1) persons subject to investigation to exclude any Assistant Attorney General and any individual working in the Department of Justice who is compensated at a rate of pay at or above level III of the executive schedule, the Director and Deputy Director of Central Intelligence and the Commissioner of Internal Revenue, and certain individuals who leave office or position during the incumbency of the President; and (2) crimes subject to investigation to cover persons who may, while in specified positions, have violated Federal criminal law (with exceptions) which involve an abuse of official power or improper influencing of executive, legislative, or electoral decisions. Directs the Attorney General to apply for the appointment of an independent counsel upon determining that there are substantial (currently, reasonable) grounds to believe that further investigation is warranted, or if speci…