This bill proposes significant changes to Minnesota's campaign finance laws, primarily by repealing the public subsidy program for candidates. It amends several sections of the Minnesota Statutes, removing references to the public subsidy program and related spending limits, which 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 statutes governing the public subsidy program. The effective date for these changes is set for July 1, 2025, aiming to streamline campaign finance regulations by eliminating public funding mechanisms and adjusting compliance requirements for candidates and political parties.

Additionally, the bill introduces amendments focusing on the interactions between candidates and independent expenditure committees, prohibiting independent expenditures for candidates if their principal campaign committee contributes to an independent expenditure committee after January 1 of the election year. It allows candidates in contested primary races who receive fewer than twice the votes of any opponent to exceed expenditure limits by 20% under certain conditions. The bill also outlines the process for candidates to be released from expenditure limits if their opponents exceed specified thresholds and establishes a method for adjusting campaign expenditure limits based on the Consumer Price Index. Furthermore, it mandates that public subsidies be withheld from candidates who fail to file required financial reports before primary elections and includes provisions for closed captioning in campaign advertisements to ensure accessibility. Overall, the bill aims to enhance accountability and transparency in campaign financing while ensuring equitable distribution of public funds among candidates.

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