(1) One or more persons may create an independent expenditure committee and shall file a statement of organization under section 24. An independent expenditure committee shall file campaign statements under sections 33 and 35 and as otherwise provided in this act.

    (2) An independent expenditure committee may receive contributions from any person, except a person prohibited from making a contribution under 52 USC 30121. An independent expenditure committee shall return a contribution made by a person prohibited from making a contribution under this subsection within 30 business days after receiving that contribution.

    (3) In addition to any independent expenditures or other disbursements not prohibited by this act or any other law, an independent expenditure committee may make contributions to another independent expenditure committee or to a ballot question committee.

    (4) An independent expenditure committee shall not make a contribution to a candidate committee, independent committee, political committee, political party committee, or house or senate political party caucus committee.

    (5) An individual who knowingly violates or causes a person to violate subsection (4) is guilty of a felony punishable by imprisonment for not more than 3 years or a fine of not more than $5,000.00, or both. A person that violates subsection (4) that is not an individual is subject to 1 of the following, whichever is greater:

    (a) A fine of not more than $20,000.00.

    (b) A fine of not more than triple the amount of the improper contribution or expenditure.