HBA-MPM H.B. 921 77(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 921 By: Zbranek Pensions & Investments 2/20/2001 Introduced BACKGROUND AND PURPOSE The 76th Legislature modified law regarding the Texas County and District Retirement System (TCDRS) by creating a penalty charged to participating subdivisions who fail to provide information or pay certain contributions in a timely manner. House Bill 921 establishes an avenue for due process for participating subdivisions of TCDRS when payments to TCDRS are delayed by certain circumstances, and allows TCDRS to waive penalties and interest caused by a delayed payment. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS House Bill 921 requires the board of trustees of the Texas County and District Retirement System (TCDRS) to waive a penalty imposed on a participating subdivision for late contributions or failure to provide information if the subdivision: _submits evidence showing that the subdivision made a diligent attempt to submit information and pay employee contributions in the time frame required by state law and that wilful negligence did not cause information required to be certified or a contribution to be untimely; and _provides the information or pays the contribution no later than 21 days after the subdivision knew or should have known of the failure to timely provide the information or contribution. EFFECTIVE DATE On passage, or if the Act does not receive the necessary vote, the Act takes effect September 1, 2001. This Act applies to information or payment that is due on or after January 1, 2000.