Generative AI (GenAI) is reshaping how students demonstrate learning, challenging long-standing traditions about what counts as evidence of learning. This exploratory-sequential mixed-methods study examines how LIS faculty assess student learning amid growing student use of GenAI, drawing on 15 faculty interviews and 200 survey responses. Findings reveal faculty recalibrating assessment to foreground authentic learning, transparency, and student reasoning, with implications for assessment design, curriculum development, AI literacy, and workforce preparation in LIS education.