Synopsis As Introduced Amends the Election Code. Beginning on January 1, 2022, requires the treasurer of a political committee to preserve certain records and accounts required by the Code for a period of 7 years (rather than a period of 2 years). Includes in the reasons the State Board of Elections may order a political committee to conduct an audit of its financial records: (1) sworn testimony or sentence entered upon a plea of guilty by a candidate or political committee officer admitting to certain conduct constituting a violation of the Code, (2) conviction of a candidate or political committee officer for a crime relating to misuse of political committee funds or for certain violations of the Code, (3) failure to comply with a Board order requiring certain filings, or (4) filing of a statement of organization by a political committee composed of one or more officers of, or formed for the same purpose as, or for the support of the candidacy of the same person as, a former political committee that was administratively terminated by the Board in the last 24 months. Provides that for certain audits the audit period shall be within the discretion of the Board but may not exceed 7 years from the close of the most recent reporting period. Effective immediately.