The bill establishes the Minnesota Volunteerism Innovation Board, which will consist of 11 voting members appointed by the governor, along with a nonvoting representative from a contractor providing administrative support. The board's responsibilities include gathering information on volunteerism, assessing the capacity of organizations to enhance volunteer efforts, and administering a grant program aimed at increasing measurable results of innovative volunteer initiatives. The board is required to report annually to the legislature and the governor on its activities, financial statements, and grant outcomes. The board is set to expire on June 30, 2030.

Additionally, the bill creates the Minnesota Volunteerism Innovation Account, which will be funded through appropriations and nonstate contributions. The account will support the board's activities and grant programs, with specific funding allocated for administrative costs. The bill mandates that initial appointments to the board occur by August 1, 2025, and the first meeting must be convened by September 1, 2025. The legislation also outlines eligibility criteria for grant applicants, requiring a nonstate match for funding and establishing rules for equitable distribution of grants across the state.