MONTGOMERY, Ala. (AP) - A Republican legislator says he will introduce a package of bills that would ensure the state honors the
48,000 existing contracts in the state's prepaid college tuition program.
Rep. Greg Wren of Montgomery says one of the bills would promise that each contract in the PACT program would be honored regardless
of when it was initiated. Another bill would create a new board to manage the program and require that members of the new board have
experience in investments, market analysis or financial planning.
A third bill would set up an advisory task force to review the board's investments.
The board of directors of PACT meets next month and is also expected to offer proposed legislation to rescue the program.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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