diff --git a/CHANGELOG.md b/CHANGELOG.md
index 554c317b77..dff5b11fa6 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,32 @@
 All notable changes to this project will be documented in this file.
 This project adheres to [Semantic Versioning](https://semver.org/).
 
+## [1.3.1] - 2024-07-02
+
+### 🔧 Fixes
+* Add link for backing-property-naming, correct binary-expression-wrapping - [#2704](https://github.com/pinterest/ktlint/pull/2704), by @rsmith20
+* Do not insert a whitespace element as first or last child inside a composite element - [#2715](https://github.com/pinterest/ktlint/pull/2715), by @paul-dingemans
+* Do not rewrite a class to a single line signature in case it contains an EOL comment - [#2716](https://github.com/pinterest/ktlint/pull/2716), by @paul-dingemans
+* Fix false positive when anonymous function is used as value argument - [#2718](https://github.com/pinterest/ktlint/pull/2718), by @paul-dingemans
+* Fix suppression handling when 'formatter:on' not properly specified - [#2719](https://github.com/pinterest/ktlint/pull/2719), by @paul-dingemans
+* Fix false positive when primary constructor has no arguments and a secondary constructor exists - [#2717](https://github.com/pinterest/ktlint/pull/2717), by @paul-dingemans
+* Ignore suppressions for no-unused-imports rule - [#2720](https://github.com/pinterest/ktlint/pull/2720), by @paul-dingemans
+* Ignore suppressions in rule `no-unused-imports` - [#2725](https://github.com/pinterest/ktlint/pull/2725), by @paul-dingemans
+* Fix false alert `Format was not able to resolve all violations which (theoretically) can be autocorrected` - [#2727](https://github.com/pinterest/ktlint/pull/2727), by @paul-dingemans
+* Fix "unset" value for property ktlint_chain_method_rule_force_multiline_when_chain_operator_count_greater_or_equal_than - [#2728](https://github.com/pinterest/ktlint/pull/2728), by @paul-dingemans
+
+### 📦 Dependencies
+
+* Update dependency gradle to v8.8 - [#2680](https://github.com/pinterest/ktlint/pull/2680), by @renovate[bot]
+* Update plugin com.gradle.develocity to v3.17.5 - [#2697](https://github.com/pinterest/ktlint/pull/2697), by @renovate[bot]
+* Update actions/checkout digest to 692973e - [#2699](https://github.com/pinterest/ktlint/pull/2699), by @renovate[bot]
+* Update dependency io.github.hakky54:logcaptor to v2.9.3 - [#2707](https://github.com/pinterest/ktlint/pull/2707), by @renovate[bot]
+* Update dependency org.junit.jupiter:junit-jupiter to v5.10.3 - [#2721](https://github.com/pinterest/ktlint/pull/2721), by @renovate[bot]
+
+### 💬 Other
+
+* Remove sdkman - [#2693](https://github.com/pinterest/ktlint/pull/2693), by @paul-dingemans
+
 ## [1.3.0] - 2024-06-04
 
 ### 🆕 Features
@@ -2469,6 +2495,7 @@ set in `[*{kt,kts}]` section).
 
 ## 0.1.0 - 2016-07-27
 
+[1.3.1]: https://github.com/pinterest/ktlint/compare/1.3.1...1.3.0
 [1.3.0]: https://github.com/pinterest/ktlint/compare/1.3.0...1.2.1
 [1.2.1]: https://github.com/pinterest/ktlint/compare/1.2.1...1.2.0
 [1.2.0]: https://github.com/pinterest/ktlint/compare/1.2.0...1.1.1
diff --git a/RELEASE_TESTING.MD b/RELEASE_TESTING.MD
index f8121e1c68..1dee756108 100644
--- a/RELEASE_TESTING.MD
+++ b/RELEASE_TESTING.MD
@@ -40,7 +40,7 @@ Before releasing a new version of KtLint, the release candidate is tested on a s
    ```
 4. Create an alias or script to run the latest released version of ktlint (note that this script will print the version as reference to which version is used):
    ```shell
-   alias ktlint-prev="ktlint-1.2.1 $@" # Replace with the latest release version
+   alias ktlint-prev="ktlint-1.3.0 $@" # Replace with the latest release version
    ```
    Note that `~/git/ktlint` is the directory in which the ktlint project is checked out and that `~/git/ktlint/ktlint` refers to the `ktlint` CLI-module.
 5. Create an alias or script to run the latest development-version of ktlint (note that this script will print the version and the datetime of compilation as reference to which version is used):
@@ -79,16 +79,20 @@ Formatting projects in which ktlint is not used may result in a huge amount of f
 1. Define `.editorconfig` in the integration test directory with content below. Also follow up the instructions mentioned:
    ```editorconfig
    root = true
+
+   [graphql-kotlin/**/*.{kt,kts}]
+   ktlint_standard_no-unused-imports = disabled
+   ktlint_standard_import-ordering = disabled
+
+   [kotlinx.coroutines/**/*.{kt,kts}]
+   ktlint_standard_no-wildcard-imports = disabled
+
    [*.{kt,kts}]
    # The open source projects that are used for release testing of ktlint contain a few '.editorconfig' files which need to
    # be changed:
    #   1) Disable the "root = true" property so that each project ultimately falls back on this file. In this way offending
    #      rules can be easily enabled/disabled for all test projects
-   #   2) Remove property below from graphql-kotlin
-   #          disabled_rules=import-ordering
-   #      And add properties below:
-   #          ktlint_standard_import-ordering = disabled
-   #          ktlint_standard_package-name = disabled
+   #   2) From the graphql project remove the `disabled_rules` property
    ktlint_code_style = ktlint_official
    ktlint_experimental = enabled
    ktlint_standard = enabled
@@ -156,11 +160,24 @@ Formatting projects in which ktlint is not used may result in a huge amount of f
      rm baseline.xml
      ktlint-dev --baseline=baseline.xml --relative # Do not call this command via the "./exec-in-each-project.sh" script as we want to use the one combined baseline.xml file for all projects.
      ```
-    No violations, except error that can not be autocorrected, should be expected.
-12. Rerun with *latest development* version and verify that no violations are reported:
+    As the baseline is removed, thousands of violations are to be reported. Check at least in the summary that no internal errors are thrown like below:
+    ```plain
+    Internal Error (...) in file '...' at position '0:0. Please create a ticket at https://github.com/pinterest/ktlint/issues ...
+    ```
+12. Rerun lint with *latest development* version and verify that no violations are reported:
    ```shell
    ktlint-dev --baseline=baseline.xml --relative # Do not call this command via the "./exec-in-each-project.sh" script as we want one combined baseline.xml file for all projects.
    ```
+No violations should be reported in this run.
+13. Rerun format with *latest development* version without baseline:
+     ```shell
+     ktlint-dev -F --relative # Do not call this command via the "./exec-in-each-project.sh" script as we want to use the one combined baseline.xml file for all projects.
+     ```
+    As the baseline is removed, thousands of violations are to be expected. Check at least in the summary that no internal errors are thrown like below:
+    ```plain
+    Internal Error (...) in file '...' at position '0:0. Please create a ticket at https://github.com/pinterest/ktlint/issues ...
+    ```
+    As the baseline is removed, thousands of violations are to be reported and/or autocorrected. Check at least in the summary that no internal errors are thrown like below:
 
 ## Checking documentation
 [The documentation for KtLint](https://pinterest.github.io/ktlint/) should be checked for dead links.
diff --git a/gradle.properties b/gradle.properties
index cd1a4d6699..5251bd8305 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -1,4 +1,4 @@
-VERSION_NAME=1.3.1-SNAPSHOT
+VERSION_NAME=1.3.1
 POM_GROUP_ID=com.pinterest.ktlint
 
 POM_DESCRIPTION=An anti-bikeshedding Kotlin linter with built-in formatter.