MN HF3405

Prohibits candidates from accepting contributions from unregistered political committees, political funds, lobbyists, or associations that would exceed 20 percent of election cycle segment expenditure limits, rounded to the nearest $100.

Defines "foreign-influenced corporation" as any corporation where a single foreign owner holds 1% or more of equity/voting shares, two or more foreign owners collectively hold 5% or more, or a foreign owner participates in the corporation's political decision-making in the United States.

Bans foreign-influenced corporations from making expenditures to promote or defeat candidates, making contributions to candidates or political committees, taking ballot question positions, and engaging in public endorsements or opposition related to elections or ballot issues.

Requires corporations making contributions or expenditures to submit certification to the Campaign Finance and Public Disclosure Board within seven business days, signed by the chief executive officer under penalty of perjury, stating they were not foreign-influenced as of the contribution or expenditure date.

Establishes civil penalties up to $10,000 and criminal penalties up to $40,000 for knowing violations, with potential dissolution for domestic corporations and forfeiture of business rights for foreign-influenced or nonresident corporations.