Federal Election Campaign Act Amendments

[AI summary unavailable — showing source text] Federal Election Campaign Act Amendments - Establishes, as an independent establishment of the executive branch, a Federal Elections Commission. Sets forth the powers of the Commission. Requires each candidate to designate one political committee as his central campaign committee to receive all reports made by any other political committee accepting contributions or making expenditures for the purpose of influencing the nomination for election of the candidate who designated it as his central campaign committee. Requires each candidate to designate one or more National or State banks as his campaign depositories. Permits political committees to maintain petty cash funds out of which no more than $100 may be paid to any person in connection with a single transaction. Requires political committees other than central campaign committees to file their reports with the central campaign committee. Requires reports on April 10, July 10 and October 10, and 10 days before election. Authorizes to be appropriated to the Commission such sums as necessary to carry out its duties under this Act. Provides that no candidate (other than a candidate for the office of President or Vice President) may…