HB228 Alabama 2010 Session
Bill Summary
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
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.
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 - Engrossed |
| Bill Text | HB228 Alabama 2010 Session - Introduced |