The "Fiscal Responsibility in K-12 Technology Planning Act" aims to enhance the management and acquisition of technology in South Carolina's public schools. The bill mandates local education agencies, including charter authorizers, to conduct a total cost of ownership assessment when acquiring technology, which includes evaluating acquisition costs, deployment, operation, maintenance, and potential resale value. Additionally, the bill requires these agencies to consider flexibility for innovation and accessibility, as well as the security of technology in protecting pupil and employee data.

Furthermore, the bill establishes annual reporting requirements for local education agencies to submit data on technology device break/fix rates and related expenditures to the State Board of Education. The State Board is tasked with compiling this data into a statewide report and providing guidance to school districts on implementing the act's provisions. The regulations are to be promulgated by July 1, 2027, and the act will take effect upon the Governor's approval, starting with the 2027-2028 school year.