The Senate Fiscal Responsibility and Accountability Committee met Tuesday to vote on a PACT program bailout for 45,000 remaining unfulfilled contracts.
The committee voted 10-0 for the plan.
Sen. Ted Little, D-Auburn, said a group will meet Feb. 2 to discuss whether the bill should be modified before going to the Senate for a vote.
The vote may be as soon as next week.
PACT functions as a contract between Alabama and parents. Contracts are purchased in advance by parents who want to save money to send kids to college.
"Time is of the essence, the amount of funds are reducing because no new PACT contracts are being made," said Richard Huckaby, advocate for Save Alabama PACT. "The program is dependent to live off the investment potential out there unless universities capped tuition voluntarily."
PACT promises four years of college tuition to any in-state college institution, but because of the economy, money is running out.
"Problems with the PACT program include losses in the stock market," said Patti Lambert, president of SAP. "This bill will take care of the deficit of money protect the investment of the program participants."
Representatives from SAP said they want to remain neutral in the situation and be a helpful conduit of information on the issue.
"The state house honestly does not know as much about PACT as we do," Huckaby said.
The Senate Fiscal Responsibility and Accountability Committee also met Jan. 20 in a public hearing to discuss the proposed bill.
"The meeting brought some major players in the state of Alabama to the table in front of press," Huckaby said.
Little, an Auburn resident, presented the $236 million bailout bill at the meeting to uphold the PACT contracts.
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