NC S725

Removes immunity from prosecution for individuals compelled to testify about campaign finance violations; they may still be subpoenaed but no longer receive automatic pardon for testimony.

Expands the use of political party headquarters building funds to cover any liabilities of the political party, excluding salaries, electioneering communications, independent expenditures, contributions, and get-out-the-vote efforts.

Makes candidates jointly and severally liable for civil penalties assessed against their campaign committees if the committee lacks funds to pay the penalty.

Changes record retention requirements from two years after an election to two years after the last required report filing, and requires preservation of all underlying documentation supporting reported information.

Becomes effective January 1, 2012, for elections held on or after that date.