This bill (S.F. No. 1915) requires the Minnesota Campaign Finance and Public Disclosure Board to conduct a study on voluntary campaign spending limits. The board must analyze participation in the public subsidy program, compare participation rates by office, examine trends over the past ten years, and assess spending by candidates who do not participate in the subsidy program, including expenditures by their opponents and independent expenditures.

Additionally, the study will review how other states set voluntary spending limits, including whether they adjust for highly contested races, apply automatic inflation adjustments, and track participation over time. The board is also tasked with making recommendations on Minnesota's current public subsidy program and the appropriateness of existing spending limits.

The findings and recommendations must be reported to the legislature by January 15, 2026.