This bill mandates that legislators in Minnesota disclose any financial ties to entities seeking state funding, specifically when a bill related to such funding is introduced. Legislators are required to report any compensation received by themselves or their family members from these entities within five days of the bill's introduction. The designated legislative staff must then inform the bill's author and relevant committee members about the reported compensation and ensure that all disclosures are made publicly available on the respective legislative websites.

Additionally, the bill prohibits legislative staff from accepting compensation from entities that request funding through bills or grants. Violations of this provision could lead to disciplinary actions, including dismissal. The new requirements outlined in this bill are supplementary to existing conflict of interest and economic interest disclosure laws, reinforcing the commitment to transparency and accountability in state government operations.