Senate Bill 1069 establishes an Innovation Grant Program administered by the Wisconsin Economic Development Corporation (WEDC) to provide funding to private nonprofit colleges for the development of new academic programs and community partnerships aimed at addressing workforce needs. The bill outlines specific criteria for grant eligibility, including the requirement for grant recipients to provide matching funding, demonstrate a pathway for sustainability of the funded programs or projects, and limits the amount awarded to any single institution to no more than 10 percent of the total grants.

The bill creates new statutory sections, specifically 20.192 (1) (d) and 238.147, to formalize the grant program and its administration. The new language specifies that the program will support initiatives that benefit the broader public while meeting workforce demands. The WEDC is tasked with ensuring that the grants are awarded in accordance with the established criteria, promoting innovation in higher education that aligns with community and economic needs.