SB2402 Summary

• Establishes a rebuttable presumption that 11 categories of expenditures do not qualify as independent expenditures, including those made in cooperation with candidates, based on candidate information, or involving shared consultants or employees.

• Requires nonprofit organizations (except labor unions) that spend over $5,000 in any 12-month period on elections or public policy issues to register with the State Board of Elections and file detailed contribution and expenditure reports.

• Mandates disclosure of beneficial owners of entities contributing more than $10,000 to ballot initiative committees or independent expenditure committees during any election period.

• Adds civil penalty provisions for political committees making independent expenditures of $1,000 or more, with fines up to 150% of unreported amounts for willful violations and up to 50% for negligent violations.

• Takes effect immediately upon becoming law.