MN HF5120

Prohibits a candidate's principal campaign committee from accepting a loan from the candidate if the loan terms require the committee to pay interest to the candidate, effective retroactively to January 1, 2022.

Requires campaign committees that accepted interest-bearing loans from candidates on or after January 1, 2022, to refund all interest paid to contributors on a pro rata basis.

Mandates that refunds of interest payments must be distributed to contributors no later than July 1, 2024.

Maintains existing prohibitions on candidates permitting their campaign committees to accept non-institutional loans exceeding contribution limits or institutional loans where the endorser's liability exceeds contribution limits.