The proposed amendment to the Wyoming Constitution aims to transfer the responsibility of constructing school facilities from the state to local school districts. It establishes that local districts will primarily handle the provision of school facilities through bonds or other financing methods, with the stipulation that any capital expenditures must be approved by voters in an election. If voters reject a proposed expenditure, neither the school district nor the state will be obligated to fund it. Additionally, the amendment includes provisions for equalizing the cost of bond payments across districts, ensuring that the required mill levy does not exceed what it would be if the district's assessed valuation matched the state average.

Furthermore, the amendment allows for state funding mechanisms to support local districts, including appropriations or dedicated funding sources, and potentially a statewide mill levy to ensure equalization payments. It also empowers the Legislature to determine which facilities are unnecessary for education and therefore exempt from equalization. The amendment is a response to the Wyoming Supreme Court's 2001 decision that shifted the responsibility for school facilities to the state, and it seeks to restore a local system of capital construction while providing mandatory state equalization aid to support local funding efforts.