The proposed bill establishes the Minnesota Migration Act and creates the Minnesota Migration Act account within the state treasury. This account is designated for the administration of grants aimed at providing reparations to American descendants of chattel slavery residing in Minnesota. The bill outlines the formation of the Minnesota Migration Act Advisory Council, which will analyze the economic benefits derived from slavery and institutional racism, and develop criteria for distributing compensation to affected individuals and communities. The council is tasked with issuing a formal apology for historical injustices, including the military enslavement of Dred and Harriet Scott, and the systemic racism that has persisted in Minnesota.

Additionally, the bill mandates the advisory council to report annually on the progress and outcomes of the grants awarded, with the first report due by March 31, 2026. It includes provisions for the council's membership, ensuring representation from various sectors, including education, business, and community activism, with a focus on individuals with lived experiences of racial discrimination. The bill appropriates $100 million from the general fund for fiscal year 2026 to support the council's initiatives and the reparations program.