Also known as a Hybrid PAC, a Carey Committee is a political committee that holds one bank account for making contributions connected to federal elections, and a separate “non-contribution” account, for making independent expenditures.
The account that makes contributions connected to federal elections is subject to all of the limits and regulations regarding federal election contributions. The non-contribution account may accept unlimited contributions from individuals, corporations, labor organizations and other political committees.
A Carey Committee is required to register with the FEC and report all receipts and disbursements for both accounts.