S. 8405 - Campaign Finance Enforcement Act of 2010

• Establishes a State Board of Elections Enforcement Unit headed by an Enforcement Counsel with sole authority to investigate violations of campaign finance law (Article Fourteen), with a Deputy Enforcement Counsel from a different major political party.

• Requires candidates and political committees raising or spending over $1,000 annually to file campaign finance statements electronically with the State Board of Elections, in addition to local board filings.

• Creates independent expenditure reporting requirements for communications costing over $1,000 that expressly advocate for or against a clearly identified candidate, with disclosure of funding sources and required disclaimers.

• Increases civil penalties for filing violations from $500 to $1,000 per violation, and up to $10,000 for three or more violations in an election cycle; establishes penalties for false identification of political communications and independent expenditures.

• Requires business entities to obtain shareholder approval and disclose annually all political contributions, independent expenditures, and political issue communications to the Secretary of State.