The bill establishes a task force to examine the distribution of earnings from the permanent school fund endowment in Minnesota. This task force will consist of nine members with expertise in areas such as institutional asset management, investment finance, and trust administration, among others. Appointments to the task force must be made by September 1, 2024, and the first meeting is to be convened by the commissioner of education by October 1, 2024. The task force's duties include evaluating historical returns, recommending changes to the investment mix, and assessing the distribution of earnings and capital growth within the fund. Additionally, the task force may look into school trust endowment policies from other states and propose changes to relevant state statutes and constitutional provisions.

The task force is required to submit a report with its recommendations to the legislative committees overseeing the permanent school fund by January 15, 2026. To support the task force's activities, the bill appropriates a specified amount from the general fund to the commissioner of education for fiscal year 2025, which will be available until June 30, 2026.