IL SB1520

Establishes the Illinois Clean Elections Act, a voluntary public financing system for candidates running for statewide constitutional offices and the General Assembly.

Creates the Illinois Clean Elections Fund in the state treasury, funded by $40 million annually from income tax revenues, tax return checkoffs allowing $3 contributions, qualifying contributions of $5 from registered voters, and other sources.

Requires participating candidates to collect "qualifying contributions" of $5 from registered voters during designated periods (2,500 for gubernatorial candidates; 5,000 for statewide offices; 2,000 for State Senate; 1,000 for State House) and limit seed money contributions to $50,000-$5,000 depending on office.

Distributes fixed amounts from the Fund to certified candidates based on office and election type, ranging from $500,000 for Lieutenant Governor primaries to $4,000,000 for gubernatorial general elections, with matching funds available if opponents exceed spending limits.

Prohibits certified candidates from accepting contributions after certification except as authorized by the State Board, requires detailed record-keeping and reporting, and imposes fines up to $10,000 for violations.