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 and will involve local government entities, Tribal governments, or nonprofit organizations that can provide monthly payments to recipients. Eligible recipients must attest to their need and either be receiving public benefits or have a household income at or below 300% of the federal poverty guidelines. The program will also include a financial opportunity community of practice to offer training and technical assistance to grantees.

Additionally, the bill outlines specific requirements for grantees, including the design and implementation of a financial disbursement program, the provision of monthly payments of at least $500 for a minimum of 18 months, and the collection of data for reporting purposes. Cash stipends provided under this program will not be considered income for various public assistance programs, ensuring that recipients can maintain their eligibility for other benefits. The bill includes provisions for annual reporting on the program's impact and requires an independent evaluation of its efficacy and cost-effectiveness, with a final report due to legislative committees by January 15, 2028. An appropriation from the general fund is also included to support the program's implementation.