political action committees (PACs): Interest groups, created after the Federal Elections Campaign Act of 1974, that raise money and contribute funds for candidates and parties. It is currently estimated that there are well over 4,000 PACs that can be divided into segregated fund type (not permitted to solicit funds from the public and fully accountable to the organization that created it) and "nonconnected" PACs (that raise money and expend it in support of political candidates).