Reenacts Article 22B of Chapter 163 (Political Parties Financing Fund), which was repealed by SL 2013-381, Sec. 38.1(c).

Allows any income taxpayer to designate a $2 contribution ($2 each, for a married couple filing jointly) to the North Carolina Political Parties Financing Fund. Amounts credited to the fund are to be allocated equally among the political parties, defined as those that meet the definition of political party under GS 163-96 and that have maintained at least 10% of the total statewide voter registration in the two years prior to the most recent general election. The taxpayer’s election to make the contribution is irrevocable once the tax return is filed. Requires that the tax form and instructions indicate that a contribution increases the individual’s tax liability and that the funds will be allocated among the political parties. Effective for taxable years beginning on or after January 1, 2016.

Makes clarifying changes.