ELECTIONS-CONTRIBUTION LIMITS

Amends the Election Code. Limits public officials and candidates to one political committee per office held or sought. Permits exploratory committees. Permits each legislative leader to have one caucus political committee. Sets limits on contributions that a political committee may receive from individuals, non-person entities, caucus committees, other political committees, and party committees. Prohibits a non-person entity from making contributions or expanding funds in relation to a candidate except through its designated recipient committee. Authorizes a political party to designate a party committee that may receive a limited amount of contributions. Makes exceptions to the limits with respect to candidates facing opponents using personal funds and with respect to transfers by political committees. Authorizes the State Board of Elections to assess penalties against contributors and recipients for violations of the contribution restrictions. Authorizes the State Board, upon the affirmative vote of 4 of its members, to audit a political committee's records.