Teacher and School Leader Quality Partnership Grants Act This bill revises a program that awards grants to eligible partnerships to establish preparation or residency programs that prepare teachers, school leaders, and other educators for their profession. Eligible partnerships must be comprised of (1) a high-need local educational agency; (2) a high-need school or early childhood education program; (3) a partner institution and certain schools, departments, or programs within such institution. In their preparation or residency programs, such partnerships must use evidence-based methods and adhere to an evaluation plan that includes measurable performance objectives. The bill also establishes an advisory committee within the Department of Education to conduct a feasibility study that, among other things, compiles best practices for educating and training profession-ready teachers and school leaders.