MN SF288

Prohibits foreign-influenced corporations from making expenditures, contributions, or public endorsements related to candidate campaigns, ballot questions, or issues of public concern.

Defines a foreign-influenced corporation as one where a single foreign owner holds 1% or more ownership, two or more foreign owners hold 5% or more aggregate ownership, or a foreign owner participates in political activity decisions.

Requires corporations making contributions or expenditures under existing law to certify within seven business days that they are not foreign-influenced, signed by the chief executive officer under penalty of perjury.

Prohibits candidates from accepting contributions from foreign-influenced corporations and limits contributions from unregistered political committees, funds, and lobbyists to 20% of election cycle segment expenditure limits.

Establishes civil penalties up to $10,000 and criminal penalties up to $40,000 for violations, with possible dissolution or forfeiture of business rights for convicted corporations; effective July 1, 2023.