The proposed bill establishes the Minnesota Civic Fund program while repealing the existing political contribution refund program. It introduces a new chapter, Minnesota Statutes, chapter 10B, which outlines the framework for the Civic Fund, including rules for participation, the assignment of civic fund credits, and the requirement that anonymous contributions are not eligible for the program. The bill mandates that candidates and political parties must report the aggregate value of all civic fund credits redeemed during the reporting period and sets a deadline for issuing refund receipt forms, which will no longer be allowed after December 31, 2027.

Additionally, the bill specifies that civic fund credits have no cash value and cannot be assigned or transferred for cash or other considerations. Candidates must meet certain qualifications, including being registered and collecting a requisite number of small contributions to redeem credits. The legislation also outlines the redemption value cap for credits and mandates that proceeds from redeemed credits can only be used for authorized campaign purposes. The Campaign Finance and Public Disclosure Board is empowered to adopt rules for the Civic Fund and conduct public education campaigns, particularly in lower-income communities. The bill repeals specific sections related to political contribution refunds, with the overall act set to take effect on January 1, 2026.

Statutes affected:
Introduction: 10A.01, 10A.02, 10A.15, 10A.20, 10A.322, 10A.34, 289A.37, 289A.50, 290.01, 290.06