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 certain commemorative events.

Provides that the specified period of time designated by the Commission for a commemorative event may not begin unless more than one year after such designation date.

Prohibits the Commission from designating the same commemorative event within a single calendar year.

Terminates the Commission five years after its first meeting.