This bill proposes significant changes to the powers of entities operating under Minnesota law, specifically regarding their ability to engage in election and ballot-issue activities. It introduces a new section in Minnesota Statutes, chapter 300, which retracts all powers previously granted to entities and regrants only those deemed necessary for lawful business or charitable purposes. The bill explicitly states that election and ballot-issue activities are not included in the powers of entities, and any language in organizational documents that suggests otherwise is rendered void. Furthermore, entities that engage in such activities without explicit permission will forfeit their entity benefits.

The bill does, however, provide exceptions for political funds or committees registered under Minnesota or federal law, allowing them to engage in election and ballot-issue activities as long as they exist solely for that purpose and do not claim any entity benefits beyond limited liability. Additionally, it clarifies that bona fide news stories and commentaries distributed through certain media outlets are not considered election or ballot-issue activities unless those outlets are controlled by political entities. The bill also includes provisions for severability, ensuring that if any part of the law is found invalid, the remaining provisions will still be enforceable.