Montgomery, AL – Two legislative budget chairmen have introduced bills aimed at restoring a settlement over Alabama's financially troubled prepaid college tuition plan.
The settlement called for the Prepaid Affordable College Tuition plan to pay tuition rates at fall 2010 levels instead of current levels.
The Alabama Supreme Court struck down the settlement a week ago. The court said the settlement violated a 2010 state law that provided extra money to the Prepaid Affordable College Tuition plan and said the program would be 100 percent funded.
Legislation offered Thursday by Republican Sen. Trip Pittman and Republican Rep. Jay Love rewrites the 2010 law to remove the language about 100 percent funding. State Treasurer Young Boozer, who oversees PACT, said Friday they are hopeful that would permit the settlement to proceed.
(Copyright 2012 by The Associated Press. All Rights Reserved.)