Lawmakers Work To Save PACT Program

Alabama Senate A bill has been introduced to use state funds to shore up the financially troubled prepaid college tuition plan and make sure the 48000 participants receive all tuition payments.
by The Associated Press
Published: Tue, April 14, 2009 - 4:44 pm CST Last Updated: Tue, April 14, 2009 - 4:46 pm CST
MONTGOMERY, Ala. (AP) - A bill has been introduced in the
Alabama Senate to use state funds to shore up the financially
troubled prepaid college tuition plan and make sure the 48,000
participants receive all tuition payments.
Democratic state Sen. Roger Bedford of Russellville and
Republican Sen. Jimmy Holley of Elba introduced the bill Tuesday.
Lt. Gov. Jim Folsom Jr., who serves on the tuition plan's board,
said the two legislators acted at the request of board members.
The bill would turn over the program to the state pension fund
to run. It would also require the Legislature to appropriate money
each year to meet the program's obligations until all existing
participants are served.
No new participants would be allowed to enroll in the program.

(Copyright 2009 by The Associated Press. All Rights Reserved.)
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