This bill provides that, beginning July 1, 2026, the State's share of the total cost of a school construction project is either 25% of the total cost of the school construction project or a percentage equal to the state share percentage of the school administrative unit's total cost of education as determined in the essential programs and services funding formula, whichever is greater. The bill also allows the State Board of Education to adopt or amend rules related to the State's share of the total cost of a school construction project.