Amends GS 115C-301 to give local school units the maximum flexibility to use allotted teacher positions to maximize student achievement; deletes provisions specifying maximum average class sizes, maximum teaching load, and alternative maximum class sizes. Amends the report that must be submitted by the local board of education in February of each year to the State Board of Education (SBE), to require that it include all significant increases in class size. Allows local boards of education to request allotment adjustments for significant increases in class size and clarifies when the SBE may allot additional positions. Also deletes the provision allowing a penalty for noncompliance.

Amends GS 115C-47 to make it the local board of education's responsibility to assure that the teacher positions allotted by the state are used to maximize student achievement. Makes conforming changes. Makes conforming changes to GS 115C-276(k), concerning the superintendent's annual report to the State Board of Education.

Amends GS 96-33 to provide that local school administrative units do not have to report to the Labor and Economic Analysis Division data and information requested by the Division for input into the common follow‑up information management system and for such other official functions.

Requires the SBE to revise its policy on the rules and regulations for local school administrative units related to charter transportation for school-related events and activities to remove the requirements that (1) each local school administrative unit maintain a list of companies or individuals providing transportation services for activities that are approved by the SBE and (2) the local school administrative unit must limit its ability to contract for those services to an approved list of companies or individuals.

Requires the SBE to consolidate and limit reports by local school administrative units on data related to economically disadvantaged students to one report each school year.

Amends GS 115C-12(18), concerning the duty to develop and implement a uniform education reporting system (system), to remove the requirement that local school administrative units comply with the standards and procedures developed by the SBE concerning reporting fiscal and personnel information, beginning with the 1987-88 school year. Also deletes the requirement for complying with the reporting system beginning with the 1989-90 school year and for dates for implementing the revised system. Requires that SBE reporting requirements developed as a part of the system be incorporated into the Instructional Improvement System.

Establishes the 12-member Commission to Study the Provision of Exceptional Children's Services in the North Carolina Public Schools (Commission). Specifies qualifications of members to be appointed by the Speaker of the House of Representatives and the President Pro Tempore of the Senate. Requires the Commission to review all aspects of the exceptional children's services delivered by local school administrative units in the state and oversight of those services, in addition to recommending ways to limit reporting requirements and compliance measures by identifying areas where the state requirements exceed federal requirements. Specifies issues to be examined. Requires a report to the Joint Legislative Education Oversight Committee by March 15, 2014, at which time the Commission terminates.

Repeals GS 115C-105.41 (Students who have been placed at risk of academic failure; personal education plans; transition teams and transition plans). Makes conforming changes to GS 115C-83.9(a).

Effective when the act becomes law and applies beginning with the 2013-14 school year.