Amends GS 115C-288(g) to require school principals to report certain acts to law enforcement when the principal has a reasonable belief that a covered act occurred on school property (was, personal knowledge or actual notice from school personnel that such an act occurred on school property). States that a principal has a reasonable belief if he or she witnesses the act or determines through investigation that evidence exists that the act occurred. Prohibits the State Board of Education from requiring principals to report acts in addition to those required to be reported by GS 115C-288(g). Provides that the law should not be interpreted to interfere with the due process rights of school employees or the privacy rights of students. Deletes the provision making failure to report to law enforcement a Class 3 misdemeanor. Effective when the act becomes law and applies beginning with the 2011-12 school year.