This bill establishes the Election Security Program and Fund, converting the existing public financing system for presidential campaigns into a mechanism for enhancing state election security. It creates a new Election Security Fund within the Treasury, which will be financed by individual taxpayer designations previously directed to the Presidential Election Campaign Fund. The Election Assistance Commission (EAC) will oversee this program, making payments to eligible states to update voting systems and promote the security of federal elections.

To qualify for these payments, states must submit an application detailing their plan for fund use and certify that they do not permit non-citizens to vote in any public office election. Funds can be used for critical activities such as acquiring secure voting equipment, implementing cybersecurity measures, providing physical security for equipment storage, and purchasing paper ballots with security features. However, the bill explicitly prohibits using these funds for general election administrator training, litigation costs, or judgment payments.

The EAC is directed to give priority for funding to states that meet specific conditions designed to enhance election integrity. These conditions include using paper ballots that allow voter verification and serve as an audit trail, actively ensuring non-citizens are not registered or voting, and requiring voters to present valid photo identification at polling places. Acceptable photo IDs include state-issued driver's licenses or ID cards, U.S. passports, military IDs, or tribal government IDs, but exclude educational institution identification.

Concurrently with establishing the new program, the bill terminates the taxpayer financing of presidential election campaigns, including both the Presidential Election Campaign Fund and the Presidential Primary Matching Payment Account, for all future elections. Any remaining funds from the terminated Presidential Election Campaign Fund will be transferred into the newly created Election Security Fund, ensuring a seamless transition of funding from campaign finance to election security initiatives.