SB371 Alabama 2012 Session

In Committee

Bill Summary

Sponsors

Roger Bedford, Jr.

Session

Regular Session 2012

Title

PACT Program, transfer of funds designated to Budget Stabilization Fund to PACT program in those years where program is unable to meet financial obligations, authorized, legislative intent re, Secs. 16-33C-16, 29-9-4 am'd

Description

Current law provides for appropriations to be made from the Education Trust Fund in future years to the PACT Trust Fund for the purpose of fully funding the PACT Program, the terms of which were amended in Act 2010-725

This bill will provide that in any year in which the PACT Program is unable to meet the financial obligations mandated in Act 2010-725, an amount sufficient to off-set such shortfall shall be transferred to the PACT Program from any funds designated to be deposited into the Budget Stabilization Fund under the Code of Alabama 1975, Section 29-9-4

To further provide for the full funding of the PACT Program by providing for the transfer of funds designated for the Budget Stabilization Fund provided for in Code of Alabama 1975, Section 29-9-4, in any year in which the PACT Program is unable to meet the financial obligations established by Act 2010-725.

Subjects

PACT Program

Bill Actions

Action Date	Chamber	Action
February 28, 2012		Read for the first time and referred to the Senate committee on Finance and Taxation Education

Bill Text

Download SB371 Alabama 2012 Session PDF

Bill Documents