The bill establishes a Minnesota Financial Opportunity Grant Pilot Program aimed at providing direct cash assistance to eligible residents to enhance economic stability, workforce participation, and community investment. The program will be administered by the commissioner of human services, who will oversee the distribution of monthly payments of at least $500 for a minimum of 18 months to qualifying individuals or families. Eligible grantees, which include local government entities, Tribal governments, and nonprofit organizations, must demonstrate a capacity for community development and economic assistance. The bill outlines specific requirements for applications, grant activities, and the collection of data to evaluate the program's effectiveness.

Additionally, the bill stipulates that cash stipends provided under this program will not be considered income or assets for various public assistance programs, ensuring that recipients can maintain their eligibility for other forms of support. The commissioner is also tasked with establishing a financial opportunity community of practice to provide training and technical assistance to grantees. A final report on the program's efficacy and cost-effectiveness is required by January 15, 2028, and funding for the program is appropriated from the general fund for fiscal year 2026, with provisions for outreach and evaluation expenses.