AN ACT to require identification and disclosure of the original source of funds regarding the reporting of donations under the campaign finance laws.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 163‑278.12 is amended by adding a new subsection to read:

(h)      Except for political committees that do not receive more than six thousand eight hundred dollars ($6,800), or the amount set by G.S. 163‑278.13, from any one person in an election, a filer reporting donations under this subsection shall disclose the identity of the original source of the funds, the amounts of those donations, and any intermediaries who transferred the funds before they were contributed to the filer. For purposes of this subsection, original source means an individual who contributes wages, investment income, or bequests or a person that contributes money received through ordinary commercial transactions. Any person or entity making a donation in an election to a person or entity required to report donations under this subsection shall inform that person or entity of the identity of the original sources of funds being transferred, the amounts of the persons' original funds being transferred, and the identity of any persons who previously transferred the original funds.

SECTION 2.  G.S. 163‑278.12C is amended by adding a new subsection to read:

(e)      Except for political committees that do not receive more than six thousand eight hundred dollars ($6,800), or the amount set by G.S. 163‑278.13, from any one person in an election, a filer reporting donations under this subsection shall disclose the identity of the original source of the funds, the amounts of those donations, and any intermediaries who transferred the funds before they were contributed to the filer. Original source has the same meaning as in G.S. 163‑278.12(h). Any person or entity making a donation in an election to a person or entity required to report donations under this subsection shall inform that person or entity of the identity of the original sources of funds being transferred, the amounts of the persons' original funds being transferred, and the identity of any persons who previously transferred the original funds.

SECTION 3.  This act is effective when it becomes law and applies to donations made on or after that date.