The bill establishes the GroundBreak Capital Access and Innovation Fund, which aims to improve access to capital for entrepreneurship, commercial real estate development, and homeownership in Minnesota. It appropriates $50 million from the general fund for fiscal year 2026 to the commissioner of employment and economic development, specifically for a grant to the Minneapolis Foundation. The funding will support forgivable business loans, commercial real estate equity enhancements, and forgivable down payment assistance loans. The bill outlines eligibility criteria for businesses and projects seeking these funds, including requirements for business operations, project costs, and the submission of plans.

Additionally, the bill mandates the Minneapolis Foundation to provide capital to originating partners for making forgivable loans and equity enhancements, with specific conditions for forgiveness and reporting. It requires the Foundation to submit annual reports detailing the use of funds, the number of beneficiaries, and the program's impact on job creation. The bill also includes provisions for program administration, allowing a portion of the funds to be used for monitoring and technical assistance. An independent audit of the fund's use is required by February 15, 2027, ensuring accountability and transparency in the program's implementation.