CHIP School Behavioral Health Incentive Act This bill excludes expenditures relating to initiatives for school behavioral health services from the administrative spending cap under the Children's Health Insurance Program (CHIP). Currently, states may use up to 10% of their total federal CHIP expenditures on outreach, health services initiatives, and certain other activities (i.e., nonbenefit expenditures). The bill excludes health services initiatives relating to school behavioral health services from this limitation; expenditures for these and other nonbenefit expenditures may not exceed 15% of total expenditures.