ELEC CD-TAX-EXEMPT NONPROFITS

Amends the Election Code. Includes certain tax-exempt organizations under the federal Internal Revenue Code in the definitions of "political action committee", "ballot initiative committee", and "independent expenditure committee". Allows the tax-exempt organizations to establish a separate political committee whose function is to receive or make contributions or make expenditures, or any combination thereof, to support or oppose candidates or questions of public policy. Sets forth certain requirements for these separate committees. Effective immediately.