Directs the State Board of Education (SBE) to issue a request for proposals from constituent institutions of the University of North Carolina for a pilot redesign of the teacher education program. Requires proposals to provide a detailed plan on how to ensure that graduates are prepared to be highly effective teachers. Sets out information the proposal should include, such as detailed plans for vigorous recruitment strategies and stringent admissions criteria.

Requires institutions that submit a proposal to commit to implementation of the pilot redesign of the teacher education program beginning in the 2016-17 instructional year and to report outcomes of graduates from the redesigned program to the SBE and the Joint Legislative Education Oversight Committee for five years, beginning October 1 following the graduation of the first cohort. Establishes what the graduate outcomes should include. Requires the institution that receives funding to report to the SBE and the Joint Legislative Education Oversight Committee on the redesign and implementation of the revised program by December 31, 2017.

Proposals are to be submitted no later than October 15, 2015, with funding being awarded to one institution no later than December 15, 2015.

Appropriates from the General Fund to the Department of Public Instruction $300,000 for the 2015-16 fiscal year and $300,000 for the 2016-17 fiscal year to be awarded to the institution that is selected by the SBE.

Effective July 1, 2015.