Riley proposes rewrite of PACT bill
by AnnistonStar
 Around the State
Apr 22, 2010 | 884 views |  0 comments | 11 11 recommendations | email to a friend | print | permalink

The Birmingham News reports that Governor Riley would like to see the bill to subsidize the Prepaid Affordable College Tuition have some adjustments made to it.

David Stewart, Riley's chief of staff, said part of the bill as passed by the Legislature Wednesday would endanger the tax-exempt status of more than $1 billion in bonds issued by the state's Public School and College Authority. Losing that tax-exempt status could cost the state much money.


Riley asked the Senate and House of Representatives to pass an executive amendment that would erase what Riley said was a flawed section of the bill. The Senate voted this afternoon voted 24-0 to go along with the change, which now goes to the House. 

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