MN SF3398

Redefines "independent expenditure" to exclude formal public endorsements unless accompanied by an expenditure, and clarifies that political party expenditures in races where the party has a candidate are not independent expenditures.

Creates new "independent expenditure political committees" and "independent expenditure political funds" that may only make independent expenditures, pay fundraising and operational costs, and contribute to other independent expenditure entities.

Requires associations making independent expenditures over $100 to register as independent expenditure political funds or contribute to existing independent expenditure committees, with civil penalties up to four times the expenditure amount (capped at $25,000) for noncompliance.

Establishes disclosure requirements for associations contributing $5,000 or more annually to independent expenditure committees, requiring submission of donor lists identifying individuals or associations contributing $1,000 or more.

Increases campaign finance reporting deadlines and late filing penalties; increases the threshold for campaign material disclaimer exemptions from $500 to $2,000; prohibits public utilities from recovering political expenditure costs from ratepayers; and repeals prior corporate political contribution reporting requirements.