I have called several list members who have given me conflicting answers to the following factual questions about the state of the law post-BCRA, so I thought I might try to see what the consensus here is on the truth of the following propositions:

1. Nothing prohibits a corporation from giving treasury funds to a  527 organization.

2.  BCRA probably prohibits a 527 from spending corporate treasury money on some or all federal election activities, but FEC will decide this issue in a coming AO. See
http://www.campaignlegalcenter.org/press-990.html

The next few points are more controversial:

3. The operative phrase limiting 527 expenditures of corporate money is "in connection with any federal election" 2 U.S.C. ¤ 441b(b)(2).  That phrase is not the same as federal election activity defined elsewhere in the Act.

4. A 527 can spend all the corporate treasury money it wants on state election activity including voter registration, get out the vote drives to elect specific candidates, and maybe issue ads outside of the 60 day window. [This one I am least sure of, and I suspect there is disagreement among listmembers]

5. A 527 can use corporate treasury money to fund non-partisan get out the vote drives that are focused on, say, rural voters, African American voters, Christian voters (you get the picture).

6. Nothing prevents a 527 from accepting unlimited individual contributions (e.g., Soros) to be spent specifically on federal election activity.

Thanks in advance to those of you more familiar with the nitty gritty of the statute.