Senate Bill 498 is designed to bolster free speech and academic freedom at institutions within the University of Wisconsin System and technical colleges. The bill prohibits these institutions from limiting First Amendment-protected speech unless it is unlawful or disrupts the institution's operations. It eliminates the concept of free speech zones, enforces strict criteria for time, place, and manner restrictions on expressive activities, and mandates that any required permits be content-neutral. Additionally, the bill requires institutions to conduct biennial surveys on First Amendment rights and provide annual training on academic freedom and due process.

The legislation also establishes due process rights for students and employees facing disciplinary actions, ensuring they have the right to representation and access to evidence. If an institution violates these due process provisions more than once within five years, it must freeze tuition for two academic years. The bill allows individuals to pursue civil actions against the Board of Regents or technical college district boards for violations of free speech or academic freedom, with recoverable damages and costs. Furthermore, it introduces new provisions to protect expressive activities on campus, including virtual spaces, and defines what constitutes "materially and substantially disrupts" to clarify acceptable conduct and safeguard the rights of individuals and groups to express themselves freely.