§ 16-33C-16 — Appropriations from the Education Trust Fund to the Pact Trust Fund

Alabama § 16-33C-16

• Jurisdiction: Alabama
• Title 16: Education
• Ch. 33C: Wallace-Folsom Prepaid College Tuition Trust Fund

Text

(a) There is annually appropriated from the Education Trust Fund to the PACT Trust Fund the following amounts in the following fiscal years:
(1) For the fiscal year ending 2016 -- $33,952,000;
(2) For the fiscal year ending 2017 -- $63,622,000;
(3) For the fiscal year ending 2018 -- $62,783,000;
(4) For the fiscal year ending 2019 -- $61,539,000;
(5) For the fiscal year ending 2020 -- $60,738,300;
(6) For the fiscal year ending 2021 -- $31,881,600;
(7) For the fiscal year ending 2022 -- $32,181,600;
(8) For the fiscal year ending 2023 -- $33,494,400;
(9) For the fiscal year ending 2024 -- $33,728,700;
(10) For the fiscal year ending 2025 -- $38,449,500;
(11) For the fiscal year ending 2026 -- $39,201,000;
(12) For the fiscal year ending 2027 -- $32,500,000.
(b) Beginning with the fiscal year ending September 30, 2017, for budgetary purposes and annual budget calculations, fifty-five percent (55%) of the appropriations made in this section shall be considered to be a portion of the funding received by colleges and universities, and the remainder shall be considered to be the same as appropriations made for debt service.

Legislative History

(Act 2010-725, p. 1800, §3; Act 2012-198, p. 328, §1; Act 2015-538, 2nd Sp. Sess., §3.)