Requires the office of the superintendent of public instruction to: (1) Create methodologies for implementing equivalency crediting on a broader scale across the state and facilitate its implementation; and

(2) Establish a competitive grant process for school districts to apply for grants for the purpose of purchasing career and technical education equipment.

Requires school districts to annually report certain information to the office of the superintendent of public instruction.

Provides a list of the allowable uses of funding provided for career and technical education.

Prohibits the maximum allowable indirect cost for school districts for career and technical education programs funded through state and federal funds from exceeding the limitations provided under federal law for federal career and technical education funding provided to districts, or five percent, whichever is lower.