MN SF2471

Defines "independent expenditure political committee" and "independent expenditure political fund" as entities making only independent expenditures and permitted disbursements.

Requires associations making independent expenditures over $100 to register as independent expenditure political funds or contribute to existing independent expenditure committees.

Establishes civil penalties up to four times the expenditure amount (not exceeding $25,000) for violations including contributions to non-independent expenditure entities or making approved expenditures.

Modifies campaign finance reporting deadlines, requiring reports 28 and 15 days before primaries, 42 and 10 days before general elections, with additional 56-day advance filings beginning in 2012.

Increases late filing penalties from $5-$50 per day (capped at $100-$500) to $25 per day (capped at $1,000) for January 31 filings and $50 per day (capped at $1,000) for election-related filings.