(a) All public school buildings hereafter built or rebuilt shall conform to standards established by the State Board of Education as to heating and ventilating systems, light area, floor space, cubical contents, substantiated need and cost standards for construction throughout the Commonwealth: Provided, That the board of school directors shall in each case have the power to determine the type of heating and ventilating systems to be used. Cost standards shall take into account the percentage of total space which may be reimbursable, the percentage of total district budget represented by capital outlay required for the project, the financial capability of the applicant to sustain and maintain the obligation of indebtedness to be created by the proposed project, and such other factors as the board may consider necessary to establish reasonable cost standards. The board shall each year review, update, and if necessary revise such cost standards. The board shall, at least once during each period of three years, completely review and revise such standards in the light of improved facilities, equipment and methods, and in the light of changing philosophies of classroom efficiency, and with a view to utilizing natural advantages wherever available. Such standards shall permit of opportunity for individuality in design and equipment to meet the requirements and possibilities of each public school building to be built or rebuilt.

(b) Any school district may petition the State Board of Education to grant an exception to specific standards as provided in this section where unnecessary hardships or educational inadequacy would otherwise result. The State Board of Education shall hold a hearing on such petitions for exceptions upon request of the school district or may authorize the Department of Education to conduct such hearings.

(c) The Secretary of Education shall have the power to deny approval to any school building construction or reconstruction project which fails to meet standards prescribed by the State Board of Education.