HF1405

The bill proposes amendments to Minnesota election laws, specifically modifying campaign finance reporting requirements under Minnesota Statutes 2024, Section 10A.20 subdivision 3. Key provisions include:

1. Expanded Disclosure Requirements:

   • Requires legislative and statewide candidates, as well as committees promoting or opposing ballot questions, to disclose all contributors who donate more than $200 (for candidates) or more than $500 (for ballot questions) in a calendar year.
     
   • Each report must include the contributor’s name, address, employer (or occupation if self-employed), and the total donation amount received.

2. Itemized Financial Reporting:

   • Reports must detail various financial transactions, including beginning liquid assets, loans made or received (over $200), itemized contributions and expenditures, independent expenditures, noncampaign disbursements, and political donations to other candidates or committees.
     

3. Alphabetical Listing of Contributors and Vendors:

   • Requires that the names of contributors and vendors be listed in alphabetical order to enhance transparency and accessibility.
     

4. Reporting of In-Kind Contributions and Loan Forgiveness:

   • In-kind donations and forgiven loans must be disclosed at fair market value and recorded under the reporting period in which they were received.
     

Overall, the bill aims to increase transparency in campaign finance by ensuring comprehensive disclosure of contributors, expenditures, and financial activities for legislative and statewide candidates, as well as ballot committees.