HB124 Summary

• Creates the Alabama Prepaid Affordable College Tuition (PACT) Program Advisory Task Force to provide oversight and recommendations on the PACT program's operations and financial sustainability.

• Task Force composition includes 4 House members appointed by the Speaker, 4 Senate members appointed by leadership, education officials (community college chancellor, university presidents council president, higher education commission director), and 14 at-large members (7 from each congressional district) appointed by House Speaker and Lieutenant Governor, with all at-large members required to hold valid PACT contracts.

• Members serve 4-year terms and meet at least quarterly; the Speaker appoints a chair, and members elect a vice-chair; legislative members receive regular compensation and per diem while non-legislative members serve without compensation but may be reimbursed for expenses.

• Task Force responsibilities include reviewing all PACT program aspects and investment decisions, devising strategies to control tuition cost increases, meeting with the PACT Board on financial stability issues, and conducting periodic public informational meetings throughout the state.

• Act becomes effective immediately upon passage and gubernatorial approval.