IL HB2847

Amends the Election Code to require political committees to file a report of any contribution of $1,000 or more in the aggregate received from any one source during a quarterly reporting period.

Requires reports to be filed electronically with the State Board within 5 business days after receipt of a contribution that causes aggregate contributions from a source to reach $1,000 or more during the quarterly period.

Shortens the reporting deadline to 2 business days for contributions received 30 or fewer days before an election if the committee supports or opposes a candidate or public question on the ballot or makes expenditures exceeding $500.

Establishes penalties for willful or wanton violations ranging from 10% to 150% of the total amount of untimely reported contributions, with lower penalties for negligent or inadvertent violations.

Takes effect immediately upon becoming law.