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Legislative Intent
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. It is therefore the legislative intent of this
chapter to establish the Wallace-Folsom College Savings
Investment Plan that consists of two alternatives to assist
individuals in paying costs and expenses of attending
colleges and universities and thereby encourage students to
attend colleges and universities. In establishing this plan,
it is further the intent of the Legislature to encourage
timely financial planning for higher education.
(Acts 1989, No.
89-862, p. 1717, §1; Acts 1990, No. 90-570, p. 970, §1; Act
2001-427, p. 544, §1.) |
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