NC S344

Establishes the North Carolina Education Endowment Committee with nine members, including the Lieutenant Governor (chair), State Treasurer, and appointees from the State Board of Education, Governor, Speaker of the House, and President Pro Tempore of the Senate to oversee the Education Endowment Fund.

Committee shall enter into a cooperative agreement with a North Carolina nonprofit corporation (13-member board appointed by Governor, Speaker, President Pro Tempore, and other state officials) to solicit donations, raise funds, and assist with administering the endowment.

Requires local school administrative units and charter schools to nominate teachers for bonuses or salary supplements by October 31 each year, with limits of up to 15 teachers per unit (or 10% of workforce, whichever is less) and 2 teachers per charter school.

Mandates local matching funds of 10-40% depending on county tier classification (tier 1, 2, or 3 counties) for any appropriations awarded from the endowment fund.

Teacher bonuses and salary supplements from the fund must be paid separately from regular compensation with notification that funds came from the Education Endowment Fund and local matching contributions.