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


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
 
 
  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       
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