Senate Bill 285 proposes the establishment of a talent recruitment grant program administered by the Wisconsin Economic Development Corporation (WEDC). The program aims to incentivize households from outside Wisconsin to relocate to municipalities within the state. Eligible applicants for the grants include cities, villages, towns, counties, American Indian tribes or bands, and nonprofit organizations focused on economic development. To qualify for a grant, applicants must submit a detailed talent recruitment program plan, demonstrate a minimum contribution of 20% towards the program's total cost, and meet specific household goals if they have previously received funding.

The bill outlines the criteria for household eligibility, requiring that applicants reside outside Wisconsin, have an individual household income of at least $55,000, and submit an application to the grant recipient. The maximum grant amount awarded to a single municipality in one fiscal year is capped at $500,000, with disbursements structured in two phases based on the achievement of household goals. Additionally, grant recipients are mandated to provide semiannual reports to WEDC detailing the outcomes of their talent recruitment efforts, including the number of applications received, approved households, and the economic impact of the program.