Limits which corporations may form or operate separate segregated political funds so that only nonprofit corporations as defined by the tax code can create or run such funds. It narrows who may be solicited (removing stockholders and allowing solicitation only of certain executive and administrative personnel in specified places), applies government-contractor restrictions to nonprofit corporations, and requires existing covered separate segregated funds to stop operating and distribute their balances within one year of enactment. The changes take effect on the date of enactment.