‘I’m Doing It!’ Stephen Colbert Transfers Super PAC, Mulls Presidential Run

Colbert for President of the United States...of South Carolina? With a huge wink, the Comedy Central host says he's starting an "exploratory committee."

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Kristopher Long / Comedy Central / AP

Stephen Colbert, center, and John Stewart, right, hold hands during The Colbert Report, as Trevor Potter looks on Thursday, Jan. 12, 2012, in New York. During the episode, Colbert legally transferred his super political action committee to Stewart

Stephen Colbert has paved the way for a late run for president (of the United States of South Carolina?) – with some satirically symbolic changes to his Super PAC and a little help from his friend, Jon Stewart.

During Thursday night’s episode of The Colbert Report, the Comedy Central funnyman legally transferred the political fundraising committee —  which he hinted had collected sizable donations — to his Daily Show counterpart. Stewart even dropped by the set to sign the deal live on air with Colbert’s lawyer (and former chairman of the Federal Election Commission), Trevor Potter. The trio celebrated the move by joining hands, sports-team style, and sarcastically cheering in unison: “Non-coordination!”

(MORE: How to Name a Super PAC)

Under Super-PAC rules controversially settled by the Supreme Court in 2010, campaigning politicians are prohibited from simultaneously running Super PACs. Colbert is therefore legally forbidden from participating in strategy and advertising, but he can still talk about his plans on his TV show and even volunteer for the organization. One of Stewart’s first moves in his new role was to rename the group “The Definitely Not Coordinated with Stephen Colbert Super PAC.” He also declared Colbert vice president of youth outreach.

Although native South Carolinian Colbert has not declared his intentions, he made it clear enough — again with a heavy dose of irony. In true politician style, he said he’s forming “an exploratory committee to lay the groundwork for my possible candidacy for the president of the United States of South Carolina.” A graphic with the words “I’m Doing It!” appeared as patriotically colored balloons were released. Colbert’s antics follow a Public Policy Polling survey released Tuesday that found he leads former China ambassador Jon Huntsman in South Carolina.

Watch the big announcement below.

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