Final answer:
A 527 organization can receive unlimited soft money but cannot use it to support a specific candidate. Soft money is not regulated by the FEC and the emergence of super PACs, enabled by Citizens United v. FEC, allows unlimited contributions from corporations and unions.
Step-by-step explanation:
A 527 organization can accept unlimited amounts of soft money but cannot use that money on behalf of a specific candidate.
These organizations, which emerged as a result of campaign finance reforms, are intended to influence elections and political issues without being subject to the rules of the Federal Election Commission (FEC). The term 'soft money' refers to contributions that are not regulated by the FEC because they are not used to support or advocate for the election of a particular candidate. Despite the provisions of campaign finance reform such as the McCain-Feingold bill, these organizations can raise and spend unlimited funds, as long as they do it independently of a campaign or party. The most notable aspect of this system is the emergence of super PACs after the Citizens United v. Federal Election Commission Supreme Court decision, which allows corporations and unions to donate without limit to these PACs.