MN HF3588

Establishes an annual registration fee on social media platforms with 100,000 or more Minnesota account holders, with fee amount to be determined, due by June 1 each year.

Creates a social media impact fund as a separate account in the state treasury to receive registration fee revenue and any earnings from the fund.

Authorizes fund expenditures for commissioner of commerce administration costs, joint reports by commerce and human services commissioners, and Department of Human Services public outreach campaigns about adverse effects of social media on children.

Requires Commissioner of Commerce to report annually by February 1 on registered platforms and fund accounting, and Commissioner of Human Services to report on public outreach activities and research on social media effects on children.

Effective July 1, 2020, with initial public outreach and reporting to occur in 2021 and initial legislative reports due in 2022.