MN SF4240

Revokes and regrants all corporate powers for entities operating in Minnesota, including business corporations, nonprofits, LLCs, partnerships, trusts, and foreign entities, explicitly excluding the power to engage in election or ballot-issue activity effective August 1, 2026

Defines "election activity" as paying or expending money to support or oppose candidates, political parties, or political committees; "ballot-issue activity" as spending to support or oppose ballot questions or initiatives

Creates an exception allowing registered political funds and committees to engage in election and ballot-issue activities, provided they exist solely for that purpose and claim no entity benefits beyond limited liability

Exempts bona fide news stories, commentary, and editorials distributed through broadcasting stations, newspapers, magazines, blogs, and other periodical publications not owned by political parties, committees, or candidates

Imposes automatic forfeiture of all entity benefits (limited liability, perpetual duration, corporate name succession, tax credits) for any entity that engages in prohibited election or ballot-issue activity without authorization