Alabama Prepaid Affordable College Tuition Amendment (2010): Difference between revisions
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* [http://www.sos.state.al.us/elections/2010/ElectionInfo2010.aspx Alabama Secretary of State: 2010 Election Information] | * [http://www.sos.state.al.us/elections/2010/ElectionInfo2010.aspx Alabama Secretary of State: 2010 Election Information] | ||
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Revision as of 17:53, 3 June 2016
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| This measure was not put on an election ballot |
The Alabama Prepaid Affordable College Tuition Amendment did not appear on the November 2, 2010 ballot in the state of Alabama. If enacted by voters, the measure would have revised the Prepaid Affordable College Tuition plan, which had come into major problems at the time. According to the bill's sponsor, Representative Robert Bentley, the amendment would not have capped college tuition. According to reports, the plan paid college tuition for contract holders.[1]
In the past, the plan began running into financial problems when the investment market started to decline. According to Bentley, the amendment would have authorized the plan to borrow money from the Alabama Trust Fund to fix the difference between annuity earnings and each year’s required tuition payment. That number was at about $70 million annually.
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