This bill establishes the Educational Equity Challenge Grant program , to be administered by the Department of Education. The program awards grants to eligible entities, such as local and state educational agencies, educational service agencies, and partnerships involving non-profits or higher education institutions, to address students' academic, social-emotional, mental, behavioral, and physical health needs. These grants support either the adoption of evidence-based activities or the design and implementation of field- and educator-initiated proposals , particularly focusing on needs associated with the COVID-19 pandemic. The bill outlines specific funding allocations, reserving 5% for tribal schools and ensuring 75% of remaining funds support evidence-based proposals and 25% support field-initiated ones. It mandates that at least 25% of grants go to entities in rural areas and 50% to those serving student populations with 20% or more low-income families . Priority is given to applicants serving high-need students, including low-income students, students of color, and students with disabilities. Authorized appropriations total $15 billion annually for fiscal years 2027-2029, decreasing in subsequent years through 2036.