Encourages highly capable individuals with qualities of leadership to become principals through field-based, rigorous, but flexible preparation programs offered in close collaboration with school districts.

Encourages school districts to provide principals with increased decision-making authority, including personnel decisions and allocation of financial resources.

Holds principals accountable to demonstrate the qualities essential to lead a school.

Requires the professional educator standards board to: (1) Establish a residency provisional principal certification;

(2) Adopt standards that define a scope and level of professional managerial and leadership experience for certification; and

(3) Adopt standards for approval of alternative route principal certification programs.

Requires the institute for public policy to conduct an analysis of alternative route principal certification programs across the country.

Provides that the act is null and void if appropriations are not approved.