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Legislature passes PACT bill

By Staff
In its final day of the regular session Thursday, the Alabama Legislature passed a bill to help stabilize the state's prepaid college tuition program.
The House and Senate agreed to an amendment sought by Gov. Bob Riley to correct a section that he said threatened the tax-exempt status of the Public School and College Authority, which would have cost state taxpayers millions of dollars. The state Senate voted 24-0 and the House voted 94-6 to agree with the corrections.
Under terms of the bill, the state will pay $547.6 million over 13 years to subsidize the struggling PACT program.
Riley spent much of the afternoon at the State House urging legislators to give final approval to the PACT bill.
The Senate has adjourned its session, while the House is honoring Speaker Seth Hammett, who is retiring.