Assembly Bill 647 establishes a framework for whole grade sharing grants for school boards in Wisconsin. The bill mandates the Department of Public Instruction (DPI) to award four-year grants to school boards that enter into whole grade sharing agreements, providing $500 per pupil enrolled in the specified grades. Additionally, DPI is required to ensure that sufficient funds are available to cover all previously awarded grants before issuing new ones. The bill also includes provisions for annual reporting, requiring both the school boards and DPI to report on the use of grant funds to the Joint Committee on Finance.

The bill introduces new sections to the statutes, specifically creating 20.255 (2) (bp) for the grants and 118.50 (5m) detailing the eligibility and distribution of these grants. It outlines the conditions under which grants can be awarded and the reporting requirements for both the school boards and DPI. This legislative effort aims to support collaborative educational initiatives among school districts while ensuring fiscal responsibility in the allocation of state funds.