Amends the School Construction Law. In provisions concerning grant award amounts and required local matches, provides that the required local match and grant award amount are calculated by multiplying the required local match percentage and the grant award percentage by the recognized project cost, provided that, for the first application in which an applicant is funded (instead of only during the first application cycle after June 30, 2022), the amounts may be adjusted. Provides that to receive an adjustment, a school district on the 2004, 2005, or 2006 School Construction Grant List must initially apply and be approved during the first 3 application cycles after June 30, 2024. Makes a conforming change. Effective immediately.