§ 16-33C-1 Legislative intent
§ 16-33C-2 Short title
§ 16-33C-2.1 Creation and administration of plan
§ 16-33C-3 Definitions
§ 16-33C-4 Composition of ACES board
§ 16-33C-4.1 Composition of PACT board
§ 16-33C-4.2 Transition for PACT board
§ 16-33C-5 Powers of board
§ 16-33C-6 PACT Program generally
§ 16-33C-7 PACT contracts
§ 16-33C-8 Additional PACT duties of board
§ 16-33C-9 Dissolution of PACT Program
§ 16-33C-10 ACES Program generally
§ 16-33C-11 ACES savings agreements
§ 16-33C-12 Additional duties of Savings Board
§ 16-33C-13 Dissolution of ACES Program
§ 16-33C-14 Appropriations from the Education Trust Fund to the PACT Program
§ 16-33C-15 Appropriations from the Education Trust Fund to the PACT Trust Fund; purpose
§ 16-33C-16 Appropriations from the Education Trust Fund to the PACT Trust Fund
§ 16-33C-17 Charge of mandatory fees or tuition per credit hour
§ 16-33C-18 Limits on increase in mandatory fees and tuition
§ 16-33C-19 Changes to PACT rules, procedures, or policies
§ 16-33C-20 Certification that appropriations no longer necessary
§ 16-33C-21 Disposition of funds
§ 16-33C-22 Dissolution of PACT Program
§ 16-33C-23 Actuary deficits
§ 16-33C-24 ABLE Program generally
§ 16-33C-25 Administration of programs

Terms Used In Alabama Code > Title 16 > Chapter 33C

  • ABLE PROGRAM: The Achieving a Better Life Experience Program established pursuant to this chapter and defined in Section 529A of the Internal Revenue Code of 1986, as amended, or other applicable federal law, to assist individuals and families to save private funds to support individuals with disabilities to maintain health, independence, and quality of life. See Alabama Code 45-23-70.01
  • ABLE SAVINGS ACCOUNT: An individual ABLE trust fund account established by a contributor pursuant to this chapter to apply distributions from the account toward qualified disability expenses for an eligible designated beneficiary, both terms as defined in Section 529A of the Internal Revenue Code of 1986, as amended, or other applicable federal law. See Alabama Code 45-23-70.01
  • ABLE TRUST FUND: The fiduciary trust fund established pursuant to this chapter comprised of separate and segregated ABLE savings accounts as established by savings agreements. See Alabama Code 45-23-70.01
  • ACES ADMINISTRATIVE FUND: The ACES Administrative Fund created in Section 16-33C-10. See Alabama Code 45-23-70.01
  • ACES PROGRAM: The Alabama College Education Savings Program, a qualified program established pursuant to this chapter and as defined in Section 529 of the Internal Revenue Code of 1986, as amended, or other applicable federal law, to assist individuals and families to save funds for the purpose of meeting the qualified higher education expenses of the designated beneficiary. See Alabama Code 45-23-70.01
  • ACES SAVINGS ACCOUNT: An individual ACES account held in the ACES Trust Fund established by a contributor pursuant to this chapter in order to apply distributions from the account toward qualified higher education expenses at eligible educational institutions for an eligible designated beneficiary, with terms as defined in Section 529 of the Internal Revenue Code of 1986, as amended, or other applicable federal law. See Alabama Code 45-23-70.01
  • ACES TRUST FUND: The fiduciary trust fund created in Section 16-33C-10. See Alabama Code 45-23-70.01
  • AD VALOREM TAX: Those real and personal property ad valorem taxes collected by the county tax collector, the director of revenue of the county, or revenue commissioner, if any, for the county, but shall exclude all ad valorem taxes collected for the State of Alabama and all boards of education, municipalities, fire districts, or other entities located in the county. See Alabama Code 45-22-242.04
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • authority: The public corporation organized pursuant to this chapter, which shall be an agency of the state but shall not be a political subdivision of the state. See Alabama Code 45-22-242.04
  • AUTHORIZING COUNTY: Any county the governing body of which shall have adopted an authorizing resolution, even if the population of the county should fall below 600,000. See Alabama Code 45-22-242.04
  • AUTHORIZING MUNICIPALITY: Any municipality the governing body of which shall have adopted an authorizing resolution. See Alabama Code 45-22-242.04
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • board: The Board of Directors of an authority. See Alabama Code 45-22-242.04
  • bonds: Bonds, notes, warrants, certificates, and other obligations representing an obligation to pay money. See Alabama Code 45-22-242.04
  • circuit: means judicial circuit. See Alabama Code 30-3D-608
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • contributor: Any person who contributes money to an ACES Program savings account or an ABLE Program savings account established pursuant to this chapter on behalf of a designated beneficiary and who is listed as the owner of the savings account. See Alabama Code 45-23-70.01
  • county: Any county in the state. See Alabama Code 45-22-242.04
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • DESIGNATED BENEFICIARY: The eligible individual named as the beneficiary of an ABLE savings account, ACES savings account, or PACT contract established pursuant to this chapter. See Alabama Code 45-23-70.01
  • Devise: To gift property by will.
  • director: A member of the board. See Alabama Code 45-22-242.04
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Ex officio: Literally, by virtue of one's office.
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • FISCAL YEAR: The 12-month period provided for in subsection (c) of Section 11-32-7. See Alabama Code 45-22-242.04
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • GOVERNING BODY: With respect to a county, its county commissioners, board of revenue, or other like governing body and with respect to a municipality, its city or town council, board of commissioners, or other like governing body. See Alabama Code 45-22-242.04
  • LABOR UNION: An organization in which employees participate for the purpose of dealing with one or more employers concerning grievances, labor disputes, wages, rates of pay, hours of employment, or conditions of work. See Alabama Code 45-22-242.04
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • legislature: The Legislature of Alabama. See Alabama Code 45-23-70.01
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • municipality: An incorporated city or town of this state. See Alabama Code 45-22-242.04
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • PACT ADMINISTRATIVE FUND: The PACT Administrative Fund created in subsection (c) of Section 16-33C-6. See Alabama Code 45-23-70.01
  • PACT BOARD: The board of directors and trustees of the PACT Trust Fund. See Alabama Code 45-23-70.01
  • PACT CONTRACT: A contract entered into by the board and a participant in the PACT Program. See Alabama Code 45-23-70.01
  • PACT PROGRAM: The Alabama Prepaid Affordable College Tuition Program created in subsection (a) of Section 16-33C-6. See Alabama Code 45-23-70.01
  • PACT TRUST FUND: The fiduciary trust fund created in subsection (b) of Section 16-33C-6. See Alabama Code 45-23-70.01
  • PARTICIPATING MUNICIPALITY: A municipality in an authorizing county, other than the principal municipality, which is then providing funds for the authority, pursuant to resolution, contract, or otherwise. See Alabama Code 45-22-242.04
  • plan: The Wallace-Folsom Savings Investment Plan established pursuant to this chapter that consists of the PACT Program, the ACES Program, and the ABLE Program. See Alabama Code 45-23-70.01
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • PRINCIPAL MUNICIPALITY: The municipality in an authorizing county having the largest population in the authorizing county according to the last or any subsequent federal decennial census. See Alabama Code 45-22-242.04
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • property: Real and personal property, and any and all interests in the real and personal property. See Alabama Code 45-22-242.04
  • property: includes both real and personal property. See Alabama Code 30-3D-608
  • PUBLIC TRANSPORTATION SERVICE: All service involved in the transportation of passengers for hire by means of buses, street railway, elevated railway, subway, underground railroad, light rail, mass transit systems, motor vehicles, or other means of conveyance generally associated with or developed for mass surface or sub-surface transportation of the public, but does not include any service involved in transportation by taxicab, airport limousine, or industrial bus; however, public transportation service does not include aircraft or any air service subject to the Air Carrier Access Act of 1986 or managed by an airport authority of the principal municipality. See Alabama Code 45-22-242.04
  • purchaser: A person who is obligated to make contract payments in accordance with a PACT contract entered into pursuant to this chapter. See Alabama Code 45-23-70.01
  • Quorum: The number of legislators that must be present to do business.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • SAVINGS AGREEMENT: An agreement entered into between the Savings Board and a contributor establishing an ACES or ABLE savings account. See Alabama Code 45-23-70.01
  • SAVINGS BOARD: The Board of Directors of the ABLE Program and ACES Program, and trustees of the ABLE Trust Fund and ACES Trust Fund. See Alabama Code 45-23-70.01
  • state: The State of Alabama. See Alabama Code 45-22-242.04
  • STATE TREASURER: The State Treasurer of Alabama. See Alabama Code 45-23-70.01
  • TRANSIT SYSTEM: Land, plants, systems, facilities, buildings, garages, vehicles of all types, rails, lines, and any combination of any of the following, used or useful or capable of future use in furnishing public transportation service, and all other property deemed necessary or desirable by an authority for use in furnishing public transportation service. See Alabama Code 45-22-242.04
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.