This bill proposes the implementation of a gross revenues tax on entities that manufacture and sell products containing perfluoroalkyl and polyfluoroalkyl substances (PFAS) in Minnesota. The tax will be set at 50 percent of gross revenue for both manufacturers and retailers with a nexus in the state. Additionally, the bill establishes a new cleanup account in the special revenue fund, which will receive annual transfers equal to the funds raised by the PFAS tax. The funds in this account are intended for environmental cleanup efforts and will be managed by the State Board of Investment, as guided by the newly created XX Advisory Commission.

The XX Advisory Commission will consist of members appointed by legislative leaders and will be responsible for recommending the proper use of funds from the cleanup account. The commission is required to meet regularly and submit an annual report to the State Board of Investment detailing its recommendations. The bill outlines the structure, membership, and operational procedures of the commission, including provisions for initial appointments and the election of officers. Overall, the legislation aims to address environmental concerns related to PFAS while generating revenue for cleanup initiatives.