Senate Bill 806 proposes the establishment of a new grant program called the "Main Street Bounceback Grants," aimed at supporting businesses that are either opening new locations or expanding operations in vacant commercial spaces. The bill allocates $25 million in general purpose revenue for each year of the 2025-27 fiscal biennium to the Wisconsin Economic Development Corporation (WEDC) for this purpose. WEDC is required to create eligibility requirements and procedures for these grants that closely mirror those of the existing Wisconsin Tomorrow Main Street Bounceback Grant program as they were on June 30, 2023.

Additionally, the bill specifies that grants cannot be awarded to nonprofit organizations, ensuring that the funding is directed solely towards for-profit businesses. The new legal language introduced in the bill includes the creation of sections 20.192 (1) (br) and 238.129 in the statutes, which outline the appropriation for the grants and the eligibility criteria, respectively. This legislative effort aims to revitalize commercial spaces and stimulate economic growth in Wisconsin.