July 9, 2012 •
Illinois Governor Approves New Campaign Finance Laws
On Friday, July 6, 2012, Governor Pat Quinn signed Senate Bill 3722 into law, rewriting the state campaign contribution limits. Under this new law, if a natural person or an independent expenditure committee makes independent expenditures in support of, or in opposition to, the campaign of a candidate or incumbent in an amount over $250,000 for statewide office, or $100,000 for all other elective offices, then the contribution limits are waived for all candidates for that specific office. For example, if an independent expenditure committee spends more than $250,000 for commercials against candidate A, who is running for governor, then the contribution limits do not apply for any of the gubernatorial candidates.
The new law also establishes registration and reporting requirements for independent expenditure committees. The law goes into effect immediately, which means these rules apply for the state house and senate seats which are up for election in November.
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