The bill establishes a new program called the "Funding for Success Incentive Aid Program" under Minnesota Statutes, section 124D.701, aimed at providing outcome-based financial incentives to schools that demonstrate success in graduation rates and recent graduate enrollment in public colleges. The program defines specific metrics for success, including a "Graduation rate multiplier" based on the percentage of students meeting graduation requirements above 90%, and a "Recent graduate enrollment success rate multiplier" based on the percentage of recent graduates enrolled in public colleges without remedial courses. Schools must achieve a multiplier above zero in either metric to qualify for funding.

Additionally, the bill appropriates funds from the general fund to the Department of Education for the implementation of this program, with specific funding amounts designated for fiscal years, including a base amount for fiscal year 2028. The provisions of the bill will take effect for the 2026-2027 school year and later, ensuring that schools have a clear framework and timeline for participation in the program.