Eliminates nonprofit tax exemptions for entities engaged in political activity

This bill eliminates tax exemptions for nonprofits that engage in political campaign activities. It directly affects organizations that support or oppose candidates for public office, such as through contributions, advocacy ads, or using their resources to back specific candidates. Key provisions define "political campaign activity" broadly (including candidate endorsements and fundraising) but allow exceptions for non-partisan voter education, non-partisan research, and neutral candidate forums under strict conditions. Nonprofits must avoid any political campaigning to maintain tax-exempt status, with clear safe harbors for activities like non-partisan voter registration drives.