Campaign Finance and Public Disclosure Board required to study campaign spending limits.

HF 3118 requires Minnesota's Campaign Finance and Public Disclosure Board to study voluntary campaign spending limits by January 15, 2026. The board must analyze participation in public subsidy programs, historical spending trends, and how other states set similar limits, including whether they adjust for contested races or use automatic inflation adjustments. This study will cover data on candidate spending, opponent spending, and independent expenditures in races without public subsidies. The findings will inform potential recommendations for Minnesota's current public subsidy program and spending limits. The bill does not change existing laws but mandates a detailed review to assess the program's effectiveness.