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AL HB171
Bill
Status
2/6/2013
Primary Sponsor
Craig Ford
Click for details
AI Summary
HB171 - PACT Program Funding and Beneficiary Protections
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Distributes 84% of PACT Trust Fund assets to state universities and colleges by July 1, 2013, with remaining 16% retained for out-of-state/private college tuition and administrative costs.
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Requires future PACT appropriations from the Education Trust Fund to be distributed annually to state institutions in the same percentage amounts as the initial asset distribution.
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Mandates all state institutions of higher education honor existing PACT contracts by waiving full tuition and fees for admitted beneficiaries in accordance with original contract terms.
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Allows PACT Board to administer and pay tuition for beneficiaries electing to attend private or out-of-state institutions using retained funds.
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Repeals Sections 16-33C-17, 16-33C-18, and 16-33C-20; prohibits state institutions from denying admission based solely on PACT contract status.
Legislative Description
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funds for out-of-state colleges, Secs. 16-33C-6, 16-33C-7, 16-33C-8, am'd; Secs. 16-33C-17, 16-33C-18, 16-33C-20 repealed
Education Trust Fund
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
2/6/2013