Enacts new GS 163-278.12D, applicable to any corporation incorporated in this state that spends in the aggregate $10,000 or more of corporate treasury funds on independent expenditures or electioneering communications.

Requires a separate resolution subejct to a shareholder vote to approve any spending of $10,000 or more in the aggregate by the corporation for any independent expenditures or electioneering communications, for any proxy or consent or authorization for an annual meeting of the shareholders of a corporation incorporated in this state where proxies are solicited in respect of any security occurring on or after six months following the date on which final regulations are published under subsection (d) of this section.

Allows a corporation to request authorization for spending on independent expenditures or electioneering communications on a more frequent basis.

Provides in (d) that if a corporation spends less than an aggregate $10,000 in a 12-month period for independent expenditures or electioneering communications, then it does not have to seek shareholder authorization for the spending.

Specifies that (1) the authorization vote must garner support from a majority of shareholders and (2) a vote by the shareholders to approve or disapprove any spending of $10,000 or more by a corporation for any independent expenditures or electioneering communications shall be binding on the  corporation.

Provides that if a corporation makes an unauthorized independent expenditure, electioneering communication, or donation to a third party for such, then the directors at the time that the unauthorized contribution or donation was incurred are jointly and severally liable to repay to the corporation the amount of the unauthorized expenditure, with interest at the rate of 8% per year.

Applies to elections held on or after January 1, 2014.