SB 2402

Abstract

Amends the Disclosure and Regulation of Campaign Contributions and Expenditures Article of the Election Code. Provides that there is a rebuttable presumption that specified expenditures do not qualify as independent expenditures. Requires a nonprofit organization, except for a labor union, that accepts contributions, makes contributions, or makes expenditures during any 12-month period in an aggregate amount exceeding $5,000 on behalf of or in opposition to public officials, candidates for public office, or a question of public policy or for electioneering communications to register with the State Board of Elections in accordance with the Board's rules and file contribution and expenditure reports and imposes certain requirements regarding the reports. Changes requirements for reports filed by a political committee that makes independent expenditures and provides that the Board shall impose a civil penalty for failure to file a report. Provides that quarterly report of campaign contributions, expenditures, and independent expenditures shall disclose the beneficial owner of any entity that contributes more than $10,000 to a ballot initiative committee or an independent expenditure committee during any election period. Effective immediately.