The Legislature of Alabama hereby finds and determines that the advancement and improvement of higher education in the State of Alabama is a proper governmental function and purpose of the State of Alabama. Additionally, the Legislature of Alabama intends to establish a qualified ABLE Program in this state which will encourage and assist Alabama individuals and families in saving private funds for the purpose of supporting Alabama citizens with disabilities. It is therefore the legislative intent of this chapter to establish the Wallace-Folsom Savings Investment Plan that consists of the ABLE Program, ACES Program, and the PACT Program. In establishing this plan, it is further the intent of the Legislature to encourage timely financial planning for higher education and other qualified disability expenses.
Structure Code of Alabama
Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.
Section 16-33C-1 - Legislative Intent.
Section 16-33C-2 - Short Title.
Section 16-33C-2.1 - Creation and Administration of Plan.
Section 16-33C-3 - Definitions.
Section 16-33C-4 - Composition of Aces Board.
Section 16-33C-4.1 - Composition of Pact Board.
Section 16-33C-4.2 - Transition for Pact Board.
Section 16-33C-5 - Powers of Board.
Section 16-33C-6 - Pact Program Generally.
Section 16-33C-7 - Pact Contracts.
Section 16-33C-8 - Additional Pact Duties of Board.
Section 16-33C-9 - Dissolution of Pact Program.
Section 16-33C-10 - Aces Program Generally.
Section 16-33C-11 - Aces Savings Agreements.
Section 16-33C-12 - Additional Duties of Savings Board.
Section 16-33C-13 - Dissolution of Aces Program.
Section 16-33C-14 - Appropriations From the Education Trust Fund to the Pact Program.
Section 16-33C-15 - Appropriations From the Education Trust Fund to the Pact Trust Fund; Purpose.
Section 16-33C-16 - Appropriations From the Education Trust Fund to the Pact Trust Fund.
Section 16-33C-17 - Charge of Mandatory Fees or Tuition per Credit Hour.
Section 16-33C-18 - Limits on Increase in Mandatory Fees and Tuition.
Section 16-33C-19 - Changes to Pact Rules, Procedures, or Policies.
Section 16-33C-20 - Certification That Appropriations No Longer Necessary.
Section 16-33C-21 - Disposition of Funds.
Section 16-33C-22 - Dissolution of Pact Program.
Section 16-33C-23 - Actuary Deficits.