Amends GS 90-89(5) to add MDPV to the list of Schedule I controlled substances, as title indicates. Amends GS 90-95(d)(1) (penalty for possessing Schedule I controlled substance as Class I felon) to add that if the controlled substance in possession is MDPV and the quantity of MDPV is 1 gram or less, then the violation is punishable as a Class 1 misdemeanor. Enacts new GS 90-95(h)(3d) to provide that any person who sells, manufactures, delivers, transports, or possesses 28 grams or more of MDPV or any mixture containing such substance will be guilty of the felony known as trafficking in MDPV and will be punished and penalized, according to quantity involved, as specified. Effective December 1, 2011, and applies to offenses committed on or after that date.