Makes the following changes to the NC Teaching Fellows Program (Program), Part 3, Article 23, GS Chapter 116.

Amends GS 116-209.62, expanding the purpose of the Program to now be to recruit, prepare, and support students residing in or attending higher education institutions in the State for preparation as highly effective teachers in the State's public schools, rather than specifically targeting STEM or special education teachers. Makes conforming changes throughout Part 3 to remove references limiting the provisions' application to STEM or special education teachers. Expands the Program to include the 17 specifically named institutions, which all have approved educator preparation programs (EPPs) (previously, limited participation to five institutions of higher learning with approved EPPs selected by the Commission that represent both postsecondary constituent UNC institutions and private postseconday institutions operating in the State that meet the specified standards for selection, adopted by the Commission, as specified). Makes technical and conforming changes.

Appropriates $2,987,500 in additional recurring funds for 2020-21 from the General Fund to the Program, to provide for additional slots for forgivable loans beginning with the 2021-22 academic year. States the NCGA's intent to appropriate from the General Fund to the Program the following to provide a total of 200 slots for forgivable loans beginning with the 2024-25 academic year: (1) $2,987,500 in additional recurring funds for 2021-22; (2) $2,987,500 in additional recurring funds for 2022-23; and (3) $2,987,500, in additional recurring funds for 2023-24.

Effective July 1, 2020, and applies to the administration of the Program on or after that date.