The bill establishes a public lab school for students in kindergarten through grade eight, aimed at promoting differentiated instruction, serving as a teacher education institution, and identifying best teaching practices for statewide application. The school will be a collaborative effort between the University of Wyoming and the local school district, located on the university's main campus. It will operate as an independent public school governed by a board consisting of eight members, including representatives from the resident school district, the University of Wyoming, and parents of students enrolled in the school. The governing board will be responsible for the school's operations, including budgeting, contracting for services, and reporting on the school's performance annually.

Additionally, the bill outlines the admission process, which will be open to all students within the resident school district, with a maximum capacity of 200 students. If applications exceed capacity, a blind lottery will be conducted for enrollment, while providing preferences for returning students and their siblings. The funding for the school will be derived from the education resource block grant model, and the school is expected to commence operations by the 2025-2026 school year. The bill also clarifies that the public lab school will not be classified as a new school for funding purposes, allowing it to utilize data from the previous year's lab school to determine necessary resources.