HB1242 - Illinois Clean Elections Act

• Establishes voluntary public financing system for candidates running for statewide constitutional offices (Governor, Lieutenant Governor, Secretary of State, Attorney General, State Treasurer, State Comptroller) and General Assembly, effective for elections beginning in 2012.

• Creates Illinois Clean Elections Fund financed by $40 million annual transfers from General Revenue Fund starting January 1, 2012, individual tax return checkoffs ($3 per taxpayer), qualifying contributions ($5 donations from registered voters), and seed money contributions from candidates.

• Requires participating candidates to collect qualifying contributions from registered voters during designated periods (2,500 for governor, 5,000 for statewide offices, 2,000 for state senate, 1,000 for state house) and limits seed money contributions ($50,000 for governor, $25,000 for statewide offices, $10,000 for senate, $5,000 for house).

• Distributes Fund revenues to certified candidates in set amounts based on election type: gubernatorial candidates receive $2 million (primary) or $4 million (general); provides matching funds up to 2 times original distribution if opponents exceed spending limits.

• Prohibits certified candidates from accepting contributions beyond Fund distributions (except candidate/family seed money before certification and bank interest), with violations subject to fines up to $10,000 and potential return of all distributed funds.