IL SB1607

Creates the Illinois Clean Elections Act establishing a voluntary public financing system for candidates running for statewide constitutional offices (Governor, Lieutenant Governor, Secretary of State, Attorney General, State Treasurer, State Comptroller) and the General Assembly, available beginning in 2014 elections.

Establishes the Illinois Clean Elections Fund as a special state treasury fund, funded by $40,000,000 annual transfers from income tax revenues (beginning January 1, 2014), qualifying contributions ($5 per verified registered voter), tax return checkoffs ($3 per filer), seed money returned to the fund, and voluntary donations.

Requires participating candidates to collect qualifying contributions ($5 each) from registered voters in their district during designated periods and limits seed money contributions to $50,000 for gubernatorial candidates, $25,000 for statewide candidates, $10,000 for State Senate, and $5,000 for State House candidates.

Sets specific fund distribution amounts based on election type and office (e.g., $2,000,000 per gubernatorial primary candidate, $4,000,000 per general election candidate) and provides matching funds when opponents exceed spending limits by up to 2 times the initial distribution.

Prohibits certified candidates from accepting contributions except seed money before certification and only interest earned afterward; imposes fines up to $10,000 per violation and potential criminal penalties for willful violations; requires State Board oversight and reporting.