AN ACT to establish equity in reporting requirements between federal political committees and north Carolina political committees.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 163‑278.7A reads as rewritten:
"§ 163‑278.7A.  Gifts from federal political committees.
It shall be permissible for a federal political committee, as defined by the Federal Election Campaign Act and regulations adopted pursuant thereto, to make contributions to a North Carolina candidate or political committee registered under this Article with the State Board of Elections or a county board of elections, provided that the contributing  committee does all the following:
(1)	Is registered with the State Board of Elections consistent with the provisions of this  Article.
(2)	Complies with reporting requirements specified by the State Board of  Elections. Those requirements shall not be more stringent than those required of North Carolina political committees registered under this Article, unless the federal political committee makes any contribution to a North Carolina candidate or political committee in any election in excess of four thousand dollars ($4,000) for that election. 'Election' shall be as defined in G.S. 163-278.13(d).
(3)	Makes its contributions within the limits specified in this  Article.
(4)	Appoints an assistant or deputy treasurer who is a resident of North Carolina and stipulates to the State Board of Elections that the designated in‑State resident assistant or deputy treasurer shall be authorized to produce whatever records reflecting political activity in North Carolina the State Board of Elections deems necessary."
SECTION 2.  This act is effective when the State Board of Elections develops the technological capacity to implement it, but no later than January 1, 2004.
In the General Assembly read three times and ratified this the 18th day of June, 2003.

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		 Beverly E. Perdue
	 President of the Senate

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		 Richard T. Morgan
	 Speaker of the House of Representatives

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		 Michael F. Easley
	 Governor

Approved __________.m. this ______________ day of ___________________, 2003