The widespread adoption of behavioral threat assessment across the United States has raised concerns about equity in exclusionary school discipline. This study examined out-of-school suspension (OSS), placement change, and expulsion rates for a statewide sample of approximately 19,000 students who received a threat assessment in 1,700 Florida schools using the Comprehensive School Threat Assessment Guidelines. Bayesian multilevel logistic regression indicated that disciplinary outcomes were strongly associated with team determination of threat seriousness, but not school-level characteristics other than greater exclusionary discipline in secondary schools. Student-level disability and low income were associated with lower rates of exclusionary discipline. Black and Hispanic students had slightly higher suspension rates, but expulsion and placement change rates were not different than White students. In contrast to the disparities typically observed in school discipline, threat assessment was associated with only small or no disparities, supporting the equity of threat assessment for groups typically disadvantaged by disproportionate exclusionary discipline.