National Commemorative Events Advisory Act - Establishes the President's Advisory Commission on National Commemorative Events to: (1) establish criteria for recommending to the President that a proposed commemorative event be approved or disapproved; (2) review proposals for national commemorative events submitted in accordance with procedures published by the Commission; and (3) issue recommendations to the President concerning each proposal reviewed.

Prohibits the Commission from issuing a recommendation to the President for approval of an event which commemorates: (1) a commercial enterprise, industry, specific product, or fraternal, political, business, labor, or sectarian organization; (2) a particular State or any political subdivision, city, town, county, school, or institution of higher learning; or (3) a living person.

Bars: (1) the Commission from designating for commemoration of an event of any date or time period which begins more than one year after its designation date; or (2) an event which is commemorated by a specified period of time designated by the Commission from being commemorated by another designation within a single calendar year.