Legislature Approves Bill To Salvage PACT
Alabama lawmakers have approved a bill to salvage the Prepaid Affordable College Tuition plan, better known as PACT.
Our news partner The Huntsville Times reports that State Senate voted 23-3 for the bill, sending it to Governor Robert Bentley for his signature.
The bill removes language from a 2010 law the Alabama Supreme Court used as a basis for tossing out a settlement.
The PACT program has been in financial trouble ever since the 2008 recession began.
State Treasurer Young Boozer has asked the court to reconsider the ruling.