Senate Bill 285 establishes a new economic development program in Wisconsin aimed at incentivizing households from outside the state to relocate to municipalities within Wisconsin. The bill directs the Wisconsin Economic Development Corporation (WEDC) to administer talent recruitment grants, which can be awarded to eligible applicants such as cities, towns, counties, American Indian tribes, or nonprofit organizations focused on economic and community development. To qualify for a grant, applicants must submit a detailed talent recruitment program plan, demonstrate a minimum 20% contribution to the program's costs, and meet specific household goals if they have previously received funding.

The bill outlines eligibility criteria for households seeking incentives, which include residing outside Wisconsin at the time of application, having an individual household income of at least $55,000, and submitting an application to the grant recipient. Additionally, the bill caps the grant funding at $500,000 per municipality per fiscal year and stipulates that grant disbursements will occur in two phases, contingent upon the recipient meeting half of their stated household goal. Recipients are also required to provide semiannual reports to WEDC detailing the outcomes of their talent recruitment efforts, including the number of applications received and the economic impact of the program.