HB309 Alabama 2014 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2014
Title
Prepaid Affordable College Tuition Program (PACT), assets and future appropriations from Education Trust Fund, transferred to institution of higher education, state college to allow eligible students to attend without tuition or fees, certain funds for out-of-state colleges, Secs. 16-33C-6, 16-33C-7, 16-33C-8, am'd; Secs. 16-33C-17, 16-33C-18, 16-33C-20 repealed
Description
<p class="bill_description"> Currently there is projected to be a
shortage of funds to pay the full tuition and fee
costs to the beneficiaries of the remaining active
PACT contract holders</p><p class="bill_description">
This bill will provide that certain assets
in the PACT Trust will be distributed to the
several universities and colleges in the state and
that certain funds would be retained in the fund to
be available for private college or out-of-state
tuition if selected by the PACT beneficiary</p><p class="bill_description">
This bill would also provide that future
appropriations from the Education Trust Fund to the
PACT programs would be distributed to the several
universities and colleges in the same manner as the
assets transferred. Any state university or college
shall allow a PACT beneficiary who is accepted for
admission to receive credit for all tuition and
fees as under the terms of the PACT contracts which
existed prior to the passage of Act 2010-725. Any
PACT beneficiary electing a private or out-of-state
institution shall receive the amounts as determined
according to the methods in place prior to the
passage of Act 2010-725</p><p class="bill_entitled_an_act"> To amend Sections 16-33C-7 and 16-33C-8, Code of
Alabama 1975, regarding the Prepaid Affordable College Tuition
Program, to provide that certain assets in and future
appropriations to the PACT Trust Fund from the Education Trust
Fund shall be transferred to the several institutions of
higher education and that all state institutions of higher
education shall honor the remaining PACT contracts by allowing
beneficiaries to attend, if otherwise eligible and accepted
for admission, without having to pay tuition or fees as
defined in the PACT contract and PACT administrative rules;
and to repeal Sections 16-33C-17, 16-33C-18 and 16-33C-20.
</p>
Subjects
Education Trust Fund
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 21, 2014 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB309 Alabama 2014 Session - Introduced |