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.
(Acts 1989, No. 89-862, p. 1717, §1; Acts 1990, No. 90-570, p. 970, §1; Act 2001-427, p. 544, §1; Act 2015-442, §1.)
Notes of Decisions
Perdue ex rel. Perdue v. Green, 127 So. 3d 343 (Ala. 2012).
· cites it 7× “8 See Ala.Code 1975, § 16-33C-1 et seq. According to § 16-33C-16, the stated annual appropriations “will make the PACT Program 100 percent fully funded, according to the actuarial professional retained by the PACT board.”
In Re Cheatham, 309 B.R. 631 (Bankr. M.D. Ala. 2004).
· cites it 4× “Acts 90-570; see AlaCode § 16-33C-1 et seq. The intention of the Alabama Legislature was expressed as follows: It is therefore the legislative intent of this act to establish an educational trust fund as an agency and instrumentality of the State of Alabama to assist qualified…”
Perdue ex rel. Perdue v. Callan Assocs., Inc., 87 So. 3d 1161 (Ala. 2011).
· cites it 2× “Facts and Procedural History In 1990, the Alabama Legislature established the Alabama Prepaid Affordable College Tuition (“PACT”) program as part of the Wallace-Folsom College Savings Investment Plan, see §§ 16-33C-1 to -8, Ala. Code 1975. As explained by the Court of Civil…”
Johnson v. Johnson, 770 So. 2d 1103 (Ala. Civ. App. 1999).
· cites it 2× “The grandparents also asked that the father be restrained and enjoined from impairing the child’s right and entitlement to the benefits of the “PACT” program (“Wallace-Folsom Prepaid [Affordable] College Tuition Trust Fund”, see §§ 16-33C-1 to -8). The trust fund is designed to…”
In Re Darby, 212 B.R. 382 (Bankr. M.D. Ala. 1997).
· cites it 3× “Code § 16-33C-1 (1975) which describes in detail the legislative intent of the act.”
Darby v. McGregor (In Re Darby), 226 B.R. 126 (Bankr. M.D. Ala. 1998).
· cites it 2× “See Ala Code § 16-33C-1 (1975) which describes in detail the legislative intent of the act.”
Brian C. Smith v. N. Laquetta Smith., 85 So. 3d 428 (Ala. Civ. App. 2011).
· cites it 2× “This court has explained the PACT program, more formally known as the Wallace-Folsom Prepaid College Tuition Trust Fund, §§ 16-33C-1 to -8, Ala.Code 1975, as follows: "The trust fund is designed to assist payment of college tuition costs by allowing a person to purchase PACT…”
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