Section 1

Amends GS 116-209.62 to add a sixth institution of higher learning to the North Carolina Teaching Fellows Program, which must be the North Carolina Agricultural and Technical State University (University), selected as a constituent institution designed as a historically black university. Expands the number of institutions whose students will receive forgivable loans to six to include the University. Effective when the act becomes law and applies to award of forgivable loans beginning with the 2019-20 academic year. Makes other clarifying changes. 

Section 2

Repeals SL 2013-360, Section 8.22, as amended by SL 2014-100, Section 8.3, which set forth the school personnel who would be paid on the "M" salary schedule. Provides that State Board of Education Policy TCP-A-006, as it was in effect on June 30, 2013, will be used to determine whether teachers and instructional support personnel are paid on the "M" salary schedule and whether they receive a salary supplement for academic preparation at the six-year or doctoral degree level. 

Appropriates $8 million in recurring funds for the 2018-19 fiscal year from the General Fund to the Department of Public Instruction to reinstate education-based salary supplements for certain school employees in accordance with this act. 

Section 3

Allocates $5 million in nonrecurring funds from the funds appropriated to the Department of Public Instruction (Department) for the 2018-19 fiscal year to fund a new Teacher Professional Development allotment. These funds must be provided to local school administrative units based on the average daily membership of the unit and to charter schools pursuant to GS 115C-218.105(a). Directs the Department to determine the appropriate minimum allotment. These schools are to use these funds for the professional development of teachers. 

Section 4

Directs the State Board of Education to establish and coordinate a three-year master teacher pilot program (program) in local school administrative units to be administered by the Superintendent of Public Instruction. The program will continue through the 2020-21 fiscal year. The purpose of the program is to increase student performance, improve instructional practice, elevate effective educators, and ease the administrative burden on principals. A master teacher is defined as a teacher with at least five years of experience, has achieved certain ratings on the most recent teacher evaluation rubric, has made a positive impact on students in the previous school year, and is selected by the school superintendent, not to exceed 10% of all teachers in the local school administrative unit. Restricts the number of schools which may participate based on student body size. Directs the State Board to develop criteria for the program by August 1, 2018. Requires the Department to begin administering the program by January 1, 2019. Participating master teachers must identify an area in which they need improvement, and outline how they will improve in that area. They must lead a group of teachers who are not master teachers in two days of learning rounds. Master teachers will receive an annual salary supplement of $1,000 for the duration of the program. 

Appropriates $1,724,986 in nonrecurring funds for the 2018-19 fiscal year from the General Fund to the Department to provide the master teacher's salary supplement. 

Except as otherwise provided, effective July 1, 2018.