Final answer:
An organization whose sole purpose is fundraising on behalf of a special interest group to support candidates is a political action committee (PAC). PACs are regulated entities that can accept and contribute limited amounts of money to candidates or parties and play a vital role in campaign funding. The correct answer is option a.
Step-by-step explanation:
An organization whose single purpose is fundraising on behalf of a special interest group for the purposes of supporting candidates for elected office is known as a political action committee (PAC). A PAC is a committee that raises money for candidates and campaigns. Created by the 1971 Federal Election Campaign Act (FECA), PACs play a crucial role in election funding, as they collect funds from donors and distribute them to candidates who support their issues.
PACs are heavily regulated in terms of the amount of money they can accept and contribute. They are limited to receiving no more than $5,000 from an individual and can only contribute the same amount to a single candidate or $15,000 to a party per year. These regulations ensure that PACs operate within the boundaries of campaign finance law. Notable examples of PACs include business-based committees, like the TACO PAC of Taco Bell, and ideologically driven groups, such as MoveOn.org PAC or GOPAC.
Although similar in some respects, other formations like 527 groups, lobbyist committees, and grassroots organizations have different purposes and ways of operating within the political fundraising and advocacy landscape. The correct option that identifies an organization whose single purpose is fundraising on behalf of a special interest group is a) A political action committee (PAC).