Actor Stephen Colbert arrives at "The Comedy Awards" in New York City March 26, 2011. (JESSICA RINALDI/REUTERS)

The host of “The Colbert Report” on Comedy Central announced plans Thursday night to form a “super PAC,” a new kind of political-action committee that can raise and spend unlimited amounts of money on elections. About 100 super PACs have formed in the past year as a reaction to the Supreme Court ruling in Citizens United v. Federal Election Commission, which freed up corporate and union spending on political activities.

For Colbert, the structure frees him up to form a (presumably tongue-in-cheek) political action committee without running afoul of his bosses at Viacom. He was aided in his comedic civics lesson by Washington campaign-finance lawyer Trevor Potter, former chairman of the Federal Election Commission and general counsel for Sen. John McCain’s 2008 presidential bid.

“What’s a super PAC?” Colbert asks Potter at one point. “Is it a PAC that got bitten by a radioactive lobbyist?”

Here are the links to parts 1 and 2, or watch below: