This bill proposes significant changes to Minnesota's campaign finance laws, primarily by repealing the public subsidy program for candidates. It amends various sections of the Minnesota Statutes, removing references to the public subsidy program and related spending limits that were previously contingent upon candidates signing agreements to limit their campaign expenditures. The bill also includes provisions for transferring remaining balances in the state elections campaign account to the general fund and repeals numerous sections of existing law related to campaign finance regulations. The effective date for these changes is set for July 1, 2025, with the overall aim of streamlining campaign finance regulations by eliminating public funding mechanisms and adjusting compliance and reporting requirements for candidates and political parties.

Additionally, the bill introduces amendments concerning independent expenditure committees and expenditure limits for candidates. It prohibits independent expenditure committees from making expenditures for a candidate if that candidate's principal campaign committee contributes to them after January 1 of the election year. Candidates in contested primary races who receive fewer than twice the votes of any opponent can exceed expenditure limits by 120% of the applicable limit, but not more than 100% until after the primary. The bill also outlines the process for candidates to be released from expenditure limits if their opponents exceed certain thresholds and establishes a method for adjusting these limits based on the Consumer Price Index. Furthermore, it mandates that campaign advertisements include closed captioning for accessibility, with civil penalties for non-compliance, thereby enhancing transparency and accountability in campaign financing.

Statutes affected:
Introduction: 10A.022, 10A.15, 10A.20, 10A.275, 10A.28, 10A.322, 290.06