HB123 Alabama 2010 Session

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Bill Summary

Sponsors

Session

Regular Session 2010

Title

Prepaid Affordable College Tuition (PACT) Program, separate board of directors, members, duties, Sec. 16-33C-4.1 added; Secs. 16-33C-3, 16-33C-4, 16-33C-5, 16-33C-6, 16-33C-7, 16-33C-8, 16-33C-10, 16-33C-11, 16-33C-12 am'd.

Description

Under current law, the Wallace-Folsom College Savings Investment Plan consists of both the Alabama Prepaid Affordable College Tuition (PACT) Program and the Alabama College Education Savings (ACES) Program. Both the PACT and ACES Programs are governed by the same ten-member board of directors

This bill would provide that the PACT Program would be governed by its own board of directors and would also provide for the composition and duties of such board of directors

To provide that the Alabama Prepaid Affordable College Tuition (PACT) Program would be governed by its own board of directors and to provide for the composition and duties of such board of directors.

Subjects

Prepaid Affordable College Tuition (PACT) Program

Bill Actions

Action Date	Chamber	Action
March 2, 2010		Read for the first time and referred to the Senate committee on Finance and Taxation Education
February 25, 2010		Engrossed
February 25, 2010		Motion to Read a Third Time and Pass adopted Roll Call 430
February 25, 2010		Motion to Adopt adopted Roll Call 429
February 25, 2010		Education Appropriations first Substitute Offered
February 25, 2010		Third Reading Passed
February 11, 2010		Read for the second time and placed on the calendar with 1 substitute and
January 12, 2010		Read for the first time and referred to the House of Representatives committee on Education Appropriations