Relating to: creating an innovation grant program for institutions of higher education and making an appropriation. (FE)

SB 1069 creates a $5 million biennial grant program for Wisconsin's private nonprofit institutions of higher education (specifically those in the Wisconsin Association of Independent Colleges and Universities) to fund new academic programs or public infrastructure projects that address workforce needs. The program requires institutions to match each grant dollar-for-dollar with their own funding and demonstrate a plan for the initiative to become self-sustaining through tuition or other revenue after launch. Grants are capped so no single institution receives more than 10% of the total annual funding. The Wisconsin Economic Development Corporation will administer the program, with funds appropriated under statute 20.192(1)(d).