Bill Text: TX HB1707 | 2015-2016 | 84th Legislature | Enrolled

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Bill Title: Relating to the methods by which a political subdivision may submit contributions to the Texas Emergency Services Retirement System.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Passed) 2015-06-01 - Effective on 9/1/15 [HB1707 Detail]

Download: Texas-2015-HB1707-Enrolled.html

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H.B. No. 1707

AN ACT
relating to the methods by which a political subdivision may submit
contributions to the Texas Emergency Services Retirement System.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 865.014(c), Government Code, is amended
to read as follows:
(c) Contributions required as provided by this section
shall be paid at the times and in the manner that the state board
prescribes by rule. Contributions required by this section shall
be submitted by electronic funds transfer, by wire transfer, or as
an automated clearinghouse withdrawal (ACH debit) unless the
executive director grants an exception based on the difficulty of a
participating department's use of those [that] payment methods
[method]. Contributions that are not paid within the time required
by the state board accrue interest at the most recent assumed
actuarial rate of return on investments of the fund.
SECTION 2. This Act takes effect September 1, 2015.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 1707 was passed by the House on April
16, 2015, by the following vote: Yeas 146, Nays 0, 2 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 1707 was passed by the Senate on May
20, 2015, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor