It is the intent of the General Assembly to provide a pilot program affording public school districts and public charter schools the opportunity to develop teacher compensation plans tailored to the public school district's or public charter school's needs to accomplish the following:
(1) Provide incentives that will encourage teachers to improve their knowledge and instructional skills in order to improve student learning;
(2) Recruit and retain highly qualified teachers;
(3) Encourage highly qualified teachers to undertake challenging assignments;
(4) Support teachers' roles in improving students' educational achievements; and
(5) Inform policymakers regarding the potential of a restructured teacher professional pay system to improve student achievement across the state.