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HB122 Alabama 2010 Session

Updated Jul 26, 2021
HB122 Alabama 2010 Session
House Bill
Expired
Current Status
Regular Session 2010
Session
10
Sponsors

Summary

Primary Sponsor
Mike Curtis
Democrat
Co-Sponsors
David GrimesSteve ClouseJamie IsonAlan BakerChad FincherJoe HubbardVictor GastonCraig FordGreg Wren
Session
Regular Session 2010
Title
Prepaid Affordable College Tuition (PACT) Program, contracts, Legislative intent regarding expressed, each contract in force on effective date of this act to be honored regardless of date issued
Description

The Alabama Prepaid Affordable College Tuition Program (PACT) was created as part of the Wallace-Folsom College Savings Investment Plan by the Alabama Legislature. Confusion exists regarding whether some PACT contract benefits, specifically those benefits payable under contracts issued after 1995, will be honored by the state in the event assets of the PACT Trust Fund become insufficient to cover the obligations owed to all beneficiaries of PACT contracts.

This bill expresses the intent of the Legislature that the benefits provided under each PACT contract in force as of the effective date of this act will be honored, regardless of the date the contract was issued.

Subjects
Prepaid Affordable College Tuition (PACT) Program

Bill Actions

Read for the first time and referred to the House of Representatives committee on Education Appropriations

Bill Text

Download Introduced PDF

Documents

Bill Text (Introduced) HB122 Alabama 2010 Session - Introduced

Source: Alabama Legislature