Federal Election Financing and Reform Act

[AI summary unavailable — showing source text] Federal Election Financing and Reform Act - Adds Title V: Public Financing of Congressional Elections to the Federal Election Campaign Act. Establishes in the Treasury of the United States the Congressional Election Campaign Fund. Authorizes the appropriation to the Fund such sums as may be necessary to carry out this Act. Sets forth requirements for candidates to receive payments from the Fund. Establishes the Federal Election Commission, to be composed of the Comptroller General and six other members who shall be appointed by the President with the advice and consent of the Senate. Sets forth administrative composition and functions of the Commission. Provides that the Commission shall have the power: (1) to require any person to submit in writing such reports and answers to questions as the Commission may prescribe; (2) to administer oaths and issue subpoenas; (3) and to initiate, prosecute, defend, or appeal any court action in the name of the Commission for the purpose of enforcing the provisons of this Act. Provides that, notwithstanding any other provision of law, that the Commission shall be the primary civil and criminal enforcement agency for violations of the provisions …