Protecting the Right to Organized, Transparent Elections through a Constitutionally Trustworthy Electoral College Act (PROTECT Electoral College Act) This bill temporarily suspends federal election security grants and conditions receipt of future grants on certain state certifications. The bill also requires a study on the 2020 presidential election. Specifically, the bill suspends through July 1, 2022, election security grants. During this time period, new grants may not be awarded and previous grant funds may not be expended. Further, the bill conditions receipt of future election security grants on a state legislature certifying certain matters, including that the state's mail-in voter verification procedures are specifically established in statute. The state legislature must also certify that unless there is a statute that specifically authorizes the practice, the state (1) does not provide mail-in ballots to voters unless a voter specifically requests a ballot; and (2) does not permit third parties, except for a voter's family member or caregiver, to return a voter's completed ballot. The bill prohibits election assistance funds from being used to further an election procedure that is not expressly set forth in state statute. Additionally, the Government Accountability Office must study and report on the administration of the 2020 presidential election. The report must analyze specific matters for each state that received election security grants, including an analysis of a state's use of these grants and any subsequent actions taken by its state legislature.