INSPIRES Act

Investing in New and Supportive Pathways to Improve and Reward Educators in our Schools Act or INSPIRES Act - Amends the Elementary and Secondary Education Act of 1965 to require each state receiving school improvement funds to: (1) define teacher and principal effectiveness and establish performance ratings; (2) demonstrate that it has developed, in collaboration with teachers and principals, a model teacher and principal evaluation program; (3) demonstrate that each of its local educational agencies (LEAs) has adopted a teacher and principal evaluation program; and (4) demonstrate that each LEA is actively collaborating with teachers and principals in developing and making annual improvements to such program.

Requires teacher evaluations to: (1) emphasize student academic growth; (2) include observations of the teacher's classroom performance; (3) rate teachers using at least four performance categories; and (4) provide results that are comparable across all teachers within the LEA.

Requires principal evaluations to: (1) emphasize student academic growth; (2) factor in their school's graduation rates; (3) assess the principal's success in recruiting, developing, evaluating, and retaining effective teachers; (4) assess the principal's leadership abilities through observations and other relevant data; (5) rate principals using at least four performance categories; and (6) provide results that are comparable across all principals within the LEA.

Requires states and LEAs to report the number and percentage of teachers and principals in each performance category within their respective jurisdictions overall, and at their LEAs and schools that have the highest and lowest poverty rates or the highest and lowest percentages of minority students.

Directs the Secretary of Education to: (1) recognize each LEA that has innovative, high-quality, and effective teacher or principal evaluation programs that lead to professional development and improved student performance; and (2) establish a clearinghouse to share the best practices of such programs with educators.