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 startup business loans, commercial real estate equity enhancements, and forgivable down payment assistance loans, with specific eligibility criteria and reporting requirements outlined for each type of financial assistance.

Additionally, the bill mandates that the Minneapolis Foundation provide annual reports to legislative committees on the use of funds and program outcomes, including the number of businesses and projects supported, demographic information of recipients, and the program's impact on job creation. The Foundation is also required to maintain a public website for transparency and to conduct an independent audit of fund usage by February 15, 2027. The bill emphasizes the importance of supporting startups and projects that contribute to economic development while ensuring accountability in the use of appropriated funds.