House Sponsors: GASH-SCULLY-CROTTY-ERWIN-COULSON, GIGLIO AND RONEN. Short description: ELEC CD - CAMPAIGN FINANCE Synopsis of Bill as introduced: Amends the Election Code. Permits public officials and candidates for public office to establish no more than one political committee. Defines a political action committee as a political committee established by other than a public official, a candidate, or a county or State central committee of a political party. Prohibits corporations, non-profit corporations, and labor unions from making campaign contributions from their treasury funds. Requires the political action committees of any corporation, labor union, or association that makes certain qualifying campaign contributions to register and file contribution reports with the State Board of Elections. Eliminates the separate registration and filing requirement for non-profit organizations. Limits contributions to General Assembly members and candidates and statewide officers and candidates from individuals and political action committees. Prohibits transfers and contributions from a public official's or candidate's political committee to other political committees. Limits the amount of funds retained by the political committee of General Assembly members and candidates and statewide officers and candidates at the end of an election cycle. Requires dissolution of a public official's or candidate's political committee within 4 years of leaving office or defeat. Limits the use of the committee to remaining funds. Requires the State Board of Elections to prepare and distribute guidebooks on General Assembly and statewide office candidates. Changes the penalty for willful failure to file campaign reports or willful filing of false reports from a business offense to a Class A misdemeanor. Makes receipt and retention of contributions in excess of limits a Class A misdemeanor. CORRECTIONAL NOTE (Department of Corrections) There will be no fiscal or prison population impact. FISCAL NOTE (State Board of Elections) HB 2602 would cost the State Board approximately $50,000 for software and Web Site modifications and $1.5 M per election for the candidate guidebooks. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status