SB2127 - Illinois Clean Elections Act

• Establishes a voluntary public financing system for candidates running for statewide constitutional offices (Governor, Secretary of State, Attorney General, State Treasurer, State Comptroller) and the General Assembly, effective for elections beginning in 2024.

• Creates the Illinois Clean Elections Fund funded by $40,000,000 annually from income tax revenues (beginning January 1, 2024), tax return checkoffs ($3 per individual), qualifying contributions from voters ($5 per contribution), and other sources including unspent campaign funds and voluntary donations.

• Participating candidates must collect a minimum number of $5 qualifying contributions from registered voters in their district during a designated qualifying period and limit seed money contributions to $50,000 for gubernatorial candidates, $25,000 for statewide offices, $10,000 for State Senate, and $5,000 for State House candidates.

• Certified candidates receive fund distributions based on election type and office (ranging from $5,000-$4,000,000 depending on position and whether the race is contested), cannot accept other contributions except as authorized, and must return unspent funds after losing a primary or general election.

• Violations subject to fines up to $10,000 per violation and potential requirement to return distributed funds; willful violations constitute a business offense punishable by fines of $1,001-$5,000 and mandatory return of all distributed amounts.