A BILL TO BE ENTITLED
AN ACT to regulate political organizations as defined by Section 527 of the internal revenue code.
The General Assembly of North Carolina enacts:
SECTION 1.  Article 22A of Chapter 163 of the General Statutes is amended by adding a new section to read:
"§ 163‑278.13C.  Regulation of 527 political organizations.
(a)	Notification. – No political organization (as defined in section 527(e)(1) of the Internal Revenue Code of 1986) whose purpose or activities pertain to elections in North Carolina may solicit or accept funds or anything of value whatsoever until it has notified the State Board of Elections of its existence and of the purposes for which it was formed. For purposes of this section, "funds or anything of value whatsoever" has the same meaning as in G.S. 163‑278.82.
(b)	Avoidance and Evasion Prohibited. – It shall be unlawful for any person or entity to avoid or evade the provisions of this section."
SECTION 2.  This act becomes effective January 1, 2008, and applies to any political organization in existence on or after that date and to funds or anything of value whatsoever solicited or accepted on or after that date.