HB228 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, annual appropriations from Education Trust Fund to PACT Fund based on a formula for fiscal years for certain period of time, dissolution of PACT Program, 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Secs. 16-33C-3, 16-33C-4, 16-33C-5, 16-33C-6, 16-33C-7, 16-33C-8, 16-33C-10, 16-33C-11, 16-33C-12 am'd.; Sec. 16-33C-9 repealed
Description
<p class="bill_description"> The Prepaid Affordable College Tuition
program which was enacted in 1989 has provided an
opportunity for the purchase of PACT contracts to
provide for future college tuition payments to be
made. The program has provided these payments for
each year since inception. The PACT Board has
suspended new entrants into the program and has
expressed concerns about the ability to meet the
contractual obligations for those participants
still in the program. Since the PACT program was
enacted by the Legislature and the PACT Board is an
agency of the state, the payment of contractual
obligations of this state agency is an issue that
should be addressed by this Legislature. This bill
will provide for the funding to offset any
shortfall if the assets of the program are
insufficient to meet the obligations</p><p class="bill_entitled_an_act"> To provide for additional funds to be appropriated
from the Education Trust Fund to the Prepaid Affordable
College Tuition program under certain conditions until there
are sufficient funds to meet the future obligations for
existing PACT contracts and to repeal Section 16-33c-9 Code of
Alabama 1975 as amended relating to the disposition of funds
upon the dissolution of the PACT Program.
</p>
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 | Cosponsors Added | |
| February 25, 2010 | Motion to Read a Third Time and Pass adopted Roll Call 426 | |
| February 25, 2010 | Ford motion to Table adopted Roll Call 425 | |
| February 25, 2010 | Hubbard 2nd Amendment Offered | |
| February 25, 2010 | Thigpen intended to vote Yea | |
| February 25, 2010 | Ford motion to Table adopted Roll Call 424 | |
| February 25, 2010 | Hubbard 1st Amendment Offered | |
| February 25, 2010 | Motion to Adopt committee substitute adopted Roll Call 423 | |
| February 25, 2010 | Shiver intended to vote Yea | |
| February 25, 2010 | Hubbard motion to Table committee substitute lost Roll Call 422 | |
| 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 |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB228 Alabama 2010 Session - Introduced |
| Bill Text | HB228 Alabama 2010 Session - Engrossed |