1.1.................... moves to amend H.F. No. 4411, the second engrossment, as follows:
1.2Page 6, after line 2, insert:

1.3    "Sec. .... Minnesota Statutes 2022, section 10A.27, subdivision 8, is amended to read:
1.4    Subd. 8. Excess loans prohibited; limitation on interest. (a) A candidate must not
1.5permit the candidate's principal campaign committee to accept a loan from other than a
1.6financial institution for an amount in excess of the contribution limits imposed by this
1.7section. A candidate must not permit the candidate's principal campaign committee to accept
1.8a loan from a financial institution for which the financial institution may hold an endorser
1.9of the loan liable to pay an amount in excess of the amount that the endorser may contribute
1.10to that candidate.
1.11(b) A candidate's principal campaign committee must not accept a loan from the candidate
1.12if the terms of the loan require the candidate's principal campaign committee to pay interest
1.13to the candidate.
1.14EFFECTIVE DATE.This section is retroactive to January 1, 2022."
1.15Page 10, after line 9, insert:

1.16    "Sec. .... LOANS FROM CANDIDATE TO CANDIDATE'S PRINCIPAL
1.17CAMPAIGN COMMITTEE.
1.18A candidate's principal campaign committee that accepted a loan from the candidate
1.19that included in its terms a required interest payment on or after January 1, 2022, must
1.20distribute a refund of the interest paid, on a pro rata basis, to any person who contributed
1.21to the candidate's principal campaign committee on or after that date. A refund required by
1.22this section must be distributed no later than July 1, 2024.
1.23EFFECTIVE DATE.This section is effective the day following final enactment."
2.1Renumber the sections in sequence and correct the internal references
2.2Amend the title accordingly