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.