So, I actually read this. Shudder.
In plain terms, what they want to ban is:
ANY sex education for children under 10 years of age.
Any program, event, or literature for children under 10 that involves "sexually-oriented" material.
It wouldn't fire trans teachers and workers, just require them not to talk about it at work, so let's not be alarmist. It's bad enough as written.
And it would let parents sue anyone who let their kids be "exposed" to the existence of trans people if federal funds are involved.
This would mean Federal arts grants could not be used by writers of books containing LGBT characters if there's any chance (hint, there always is) a child under 10 might get hold of them. Not that there are a lot of them.
It would also prevent the social transition of children under 10 and essentially force the parents of trans kids to homeschool or pay private school...and find one that doesn't take a penny of federal funds.
(Also, anyone else tired of people not understanding that drag can be raunchy and aimed at adults or very much NOT and perfectly okay for kids to watch, sometimes even when it's the same person doing it).