Repeals SL 2017-57 Section 8.3(c1) (requiring that the annual salary schedule set out in SL 2017-57(8.3)(c) applies only to the 2017-2018 calendar year). Requires that until December 31, 2018, a principal will receive the state-funded portion of their salary as detailed by SL 2017-57 8.1, 8.3, and 8.5. For the period of January 1, 2019, to December 31, 2019, a principal will receive the State-funded portion of their salary pursuant to the teacher salary schedule, principal salary schedule, or assistant principal salary schedule, as appropriate, enacted for the 2018-19 budget year. For purposes of calculating a principal's compensation, school growth scores from the 2017-18 school year will become effective January 1, 2019. 

Provides that a principal compensated in accordance with the principal salary schedule for the 2019 calendar year will receive an amount equal to or greater than the following: (1) the applicable amount determined by the principal salary schedule for the 2019 calendar year; (2) for principals who were eligible for longevity in the 2016-2017 fiscal year, the sum of the salary the principal received in the 2016-17 fiscal year pursuant to SL 2016-94 Section 9.1 or 9.2 and the longevity that the principal would have received as provided for State employees under the North Carolina Human Resources Act for the 2016-17 fiscal year based on the principal's current years of service; or (3) for principals who were not eligible for longevity in the 2016-17 fiscal year, the salary the principal received in the 2016-17 fiscal year pursuant to SL 2016-94 Section 9.1 or 9.2.

If a principal begins employment as a principal of a new school between July 1, 2018, and December 31, 2018, the new school is identified as low-performing, and the principal was paid or qualified to be paid according to the Exceeded Growth column of SL 2017-57 Section 8.3(a) during the 2017-18 fiscal year, that principal must receive for the 2019, 2020, and 2021 calendar years no less than the salary provided for principals in the Exceeded Growth column, adjusted as appropriate for the average daily membership of the principal's current school. 

Amends GS 115C-325.1(2) to make clarifying changes. Adds subdivision (e) to list of circumstances that do not constitute a demotion as defined by this section. Any reduction in a principal's salary resulting from a reduction in State funds due to school growth scores as provided in the Principal Salary Schedule, or a decline in the average daily membership of the principal's school, is not a demotion as defined by this section. 

Directs the Department of Public Instruction to provide a bonus in the 2018-19 fiscal year to any principal who supervised a school in the top 50% of school growth in the State during the previous school year, with bonuses ranging from $6,000 to $2,000 depending on the school's place in the statewide growth percentage. 

Effective July 1, 2018.