The bill establishes the Minnesota Imagination Library program under the Department of Education, aimed at providing age-appropriate books to children from birth to age five at no cost to families. The program will be implemented in partnership with the Dollywood Foundation and is designed to enhance foundational literacy and support the goals of the Read Act. The bill outlines definitions for key terms, including "eligible child," "local affiliate," and "statewide entity," and assigns specific duties to the commissioner of education and the selected statewide entity to manage the program's operations, outreach, and enrollment efforts.

Additionally, local affiliates, which may include nonprofit organizations, school districts, or public libraries, are required to enter into agreements with the Dollywood Foundation and provide a 50% funding match for the program. The bill mandates annual reporting by the commissioner to legislative committees on enrollment numbers, books distributed, and the program's impact on kindergarten readiness. An appropriation from the general fund is also included to support the program until June 30, 2029.