Senate Bill 173 establishes a rural creative economy development grant program administered by the Wisconsin Economic Development Corporation (WEDC). The program aims to support cities, villages, towns, counties, American Indian tribes, economic development organizations, and nonprofit organizations in rural areas of Wisconsin. Grants, which can be up to $50,000, are intended for projects that enhance tourism, improve visitor experiences, and promote community development through creative enterprises. Eligible uses of grant funds include supporting public arts performances, renovating public spaces, and providing technical assistance for creative businesses. Importantly, grant recipients must match the grant amount with funds from nonstate sources, with a limit on in-kind contributions.

The bill outlines specific definitions, including what constitutes a "creative enterprise" and "rural area," and mandates that WEDC report on the effectiveness of the grant program to the Joint Committee on Finance by May 1, 2027. The program is designed to foster economic growth in rural Wisconsin by leveraging local creative resources and enhancing community engagement through the arts and cultural initiatives.