(1) For purposes of this section:
(a) “Leadership fund” means accounts comprised of any moneys contributed to a political party, directly or indirectly, which are designated to be used at the partial or total discretion of a leader.
(b) “Leader” means the President of the Senate, the Speaker of the House of Representatives, the majority leader and the minority leader of each house, and any person designated by a political caucus of members of either house to succeed to any such position.
(2) Leadership funds are prohibited in this state. No leader shall accept any leadership funds.
(3) This section applies to leadership funds in existence on or after January 1, 1990.