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 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 will be managed by the State Board of Investment and used for environmental cleanup purposes as recommended by the newly created XX Advisory Commission.

The XX Advisory Commission will consist of members appointed by legislative leaders and will be responsible for advising on the proper use of the funds in the cleanup account. The commission will meet regularly, report its recommendations annually to the State Board of Investment, and will have specific provisions for membership terms, vacancies, and reimbursement of expenses. The bill outlines various administrative and reporting requirements for entities subject to the tax, including monthly informational reports and annual tax returns, while ensuring that the audit and enforcement provisions of existing tax laws apply.