Presidential Election Financial Assistance Act

[AI summary unavailable — showing source text] Presidential Election Financial Assistance Act - Establishes within the Treasury a trust fund to be known as the "Presidential Campaign Assistance Fund". Appropriates to the fund $100,000,000 out of amounts in the general fund of the Treasury not otherwise appropriated. Transfers to the fund all amounts in the Presidential Election Campaign Fund established under the Internal Revenue Code of 1954. Establishes a Presidential Election Finance Commission which shall be composed of seven members and two members of the Commission shall be appointed by the President, one member shall be appointed by the Speaker of the House of Representatives, one member shall be appointed by the minority leader of the House of Representatives, one member shall be appointed by the majority leader of the Senate and one member shall be appointed by the minority leader of the Senate, and the six members so appointed shall by a majority vote select a seventh member. Provides that the members of the Commission shall elect a Chairman and Vice Chairman from among their members. Provides that at the close of each fiscal year the Commission shall report to the Congress and to the President concerning its activiti…