Montgomery, Alabama –
(AP) - A state representative has come up with a plan to rescue Alabama's prepaid tuition plan.
Democratic state Rep. Craig Ford of Gadsden said Tuesday he's drafting legislation that would supply the program with $30 million a year for at least five years. That would cover about half of the program's tuition costs each year. Ford says that would allow the program time for the stock market to turn around.
Ford would use $25 million annually from the state's unclaimed property program and $5 million from a trust fund that finances road projects and industrial incentives. He plans to introduce his bill when the Legislature reconvenes on March 24.