(Conference report filed in Senate, S. Rept. 96-322) Federal Magistrate Act of 1979 - Empowers a full-time or part-time United States magistrate who serves as a full-time judicial officer, when specially designated by the district court and upon consent of the parties, to conduct proceedings in a jury or nonjury civil matter. Empowers a part-time magistrate who meets the bar membership requirement of this Act to exercise such jurisdiction: (1) upon specific written request of the parties; and (2) if the chief judge of the district court certifies that a full-time magistrate is not reasonably available in accordance with guidelines established by the judicial council of the circuit (leaves unmodified current law allowing magistrates to be assigned additional duties consistent with Federal law). Authorizes appeal of such decisions directly to the court of appeals or to the district court upon prior consent of the parties. Requires the clerk of court, if a magistrate is designated to exercise civil jurisdiction, to notify the parties of their right to consent to such jurisdiction. Prohibits the district judge or magistrate from attempting to persuade the parties to such consent. Requires that anyone appointed as a magistrate must have been a member of a bar of the highest court of a State, the District of Columbia, the Commonwealth of Puerto Rico, or the Virgin Islands of the United States for at least five years. Allows the magistrate and the parties to determine how the record is to be taken in such proceedings. Requires magistrates to be selected under standards and procedures promulgated by the Judicial Conference of the United States, including public notice of all vacancies and the establishment of merit selection panels by the district courts. Requires such panels to consider all qualified individuals, especially such groups as women, blacks, Hispanics, and other minorities, in recommending persons to the court. Allows a magistrate serving prior to the promulgation of selection standards and procedures to exercise the jurisdiction conferred by this Act only after reappointment under such standards or certification by the judicial council of the circuit. Requires the Director of the Administrative Office of the United States Courts to inform Congress annually on the background and qualifications of magistrates, and appeals from their decisions. Authorizes Federal courts to require payment by the United States for the expenses of printing the record on appeal from magistrate proceedings. Authorizes a magistrate to try and sentence persons accused of all misdemeanors, unless such person elects to be tried before a district judge. Allows the court, upon its own motion or upon petition by the Government for good cause, to order that proceedings in any misdemeanor case be conducted before a district judge rather than a magistrate. Authorizes a magistrate, in a case involving a youth offender in which consent has been filed pursuant to this Act, to impose sentence and exercise all powers under the Federal Youth Corrections Act, but disallows a magistrate from sentencing a youth to the custody of the Attorney General for a period in excess of one year for conviction of a misdemeanor or six months for conviction of a petty offense. Directs the Judicial Conference of the United States to conduct a study of the magistrate system and to submit its findings to Congress within 24 months of enactment.