SB371 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
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
<p class="bill_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</p><p class="bill_description">
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</p><p class="bill_entitled_an_act"> 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.
</p>
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
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB371 Alabama 2012 Session - Introduced |