This bill amends the Minimum Teacher Compensation Schedule under the Public School Funding Act of 2003 to include open-enrollment public charter schools. It establishes a minimum base salary of $50,000 for classroom teachers in both public school districts and open-enrollment public charter schools. To qualify for funding to implement this salary, each school must revise teacher contracts to ensure teachers are employed for at least 190 school days per year, adopt an employee salary schedule, and not have a waiver of teacher salary requirements. Additionally, teachers must receive a salary increase of at least $2,000 for the 2023-2024 school year, contingent upon similar eligibility criteria.

The bill also outlines requirements for on-site instruction days and defines "teacher" to include individuals in full-time positions requiring a valid Arkansas teaching license. It specifies that the minimum compensation requirements do not apply to part-time teachers in adult education programs. Furthermore, it mandates that funds allocated for teacher compensation be used solely for salaries and establishes reporting requirements for public school districts and open-enrollment public charter schools regarding their use of state funds for teacher salaries. The State Board of Education is authorized to promulgate rules for the implementation of this legislation.