The proposed bill establishes an Ambulance Operating Deficit Grant Program in Minnesota, aimed at providing financial assistance to eligible ambulance service providers facing revenue shortfalls that lead to operating deficits. The bill defines key terms related to the program, including "operating deficit," "capital expenses," and "eligible applicants." It creates an ambulance operating deficit account within the state treasury to manage the funds, which will be allocated to applicants who can demonstrate a verifiable operating deficit from the previous fiscal year. Certain licensees, such as those providing specialized life support services or those with a high response density, are excluded from eligibility.

Additionally, the bill outlines the application process for grants, which must be supported by a resolution from the governing body for government licensees. The director of the program is responsible for awarding grants based on the evidence of operating deficits, with limitations on the amount awarded to ensure it does not exceed the verified deficit. The bill also mandates annual reporting to legislative committees on the grants awarded and their usage, ensuring transparency and accountability in the program's implementation.