Federal Courts Study Act - Establishes the Federal Courts Study Commission on the Future of the Federal Judiciary.
Describes the purposes, membership, and powers of the Commission.
Directs the Commission to: (1) conduct a study of the jurisdiction of United States courts; (2) recommend revisions to the Constitution and laws of the United States; (3) collect and review studies on the effectiveness of the courts; and (4) develop a long-range plan for the judicial system.
Requires a report to Congress and the President on such study within two years.
Terminates the Commission 90 days after submission of its final report to the Council.
Authorizes appropriations.