The bill establishes a new grant program aimed at supporting preschool providers in Wyoming, particularly those serving economically disadvantaged and at-risk students. It creates the Wyoming Preschool Education Endowment Fund and the Wyoming Preschool Education Expenditure Account, which will consist of appropriated funds and earnings from investments. The funds are intended to be a permanent trust, with the earnings allocated to eligible preschool providers for various operational expenses, including teacher salaries, insurance, training for parents, and educational materials. The bill outlines the eligibility requirements for preschool providers and the application process for grants, which are capped at $50,000 per year.

Additionally, the bill mandates that the Department of Education adopt rules to facilitate the application process for preschool providers by May 15, 2025, with the first grants to be awarded by October 1, 2025. It also includes a provision for the transfer of $50 million from the public school foundation program account to the newly created endowment fund on July 1, 2024. The act is set to take effect on the same date, establishing a framework for enhancing early childhood education in the state.