The bill modifies the average daily membership (ADM) calculation used in the education resource block grant model for K-12 school finance in Wyoming. Specifically, it stipulates that students who successfully complete competency-based equivalency examinations will be included in the ADM of their school district for the course completed by examination for the remainder of the semester. This inclusion is subject to rules that will be established by the state superintendent to ensure the effective operation of the education resource block grant model.

Additionally, the bill mandates that the state superintendent promulgate necessary rules to implement these changes in accordance with existing law. The act is set to take effect immediately upon the completion of all necessary legislative processes as outlined in the Wyoming Constitution.