This bill proposes the repeal of the Minnesota Paid Leave Law, which includes the elimination of sections 268B.001 through 268B.30 of Minnesota Statutes that govern paid family and medical leave. It mandates the transfer of unspent funds from the family medical leave account to the general fund, redirecting financial resources to the state's budget. The effective date for the repeal and fund transfer is set for July 1, 2025, marking a significant shift in the state's approach to family and medical leave, which will impact the availability of paid leave benefits for Minnesota workers.

In addition to the repeal, the bill establishes a new Family and Medical Benefit Insurance Program, administered by a newly created division within the department. It outlines eligibility requirements, application processes, and benefit calculations for individuals taking leave for specific reasons, such as serious health conditions and bonding. The bill also introduces provisions for private plans, ensuring they provide the same rights and protections as the existing law, and includes measures to enhance employee rights, streamline the hearing process, and ensure accountability for both applicants and employers. Overall, the legislation aims to enhance the administration and oversight of family and medical leave benefits while protecting employee rights.