(a)Definitions. The following words and terms, when
used in this section, will have the following meanings, unless the
text clearly indicates otherwise.
(1) - (5)(No change.)
(6)Certificate of authority--a certificate
issued by the department to operate a perpetual care cemetery, which
remains in effect until it is revoked by a district court or the department,
or surrendered by the certificate holder.
(b)If I want to operate a perpetual care cemetery,
what fees must I pay to the department?
(1)(No change.)
[(2)An annual renewal fee must be
paid as required by Section 712.0037 of the Act. This annual renewal
fee is based on your fund balance as reflected on the statement of
funds in the most recent annual renewal report you have filed with
the department. Your annual renewal fee will be calculated according
to the following table:]
[Figure: 7 TAC §26.1(b)(2)]
(2)[(3)] If the department does
not receive your completed annual report [both your
completed renewal report and renewal fee] by the due date, a
late fee of $100 per day for each business day after the due date
that the department does not receive your completed annual report [
renewal report and renewal fee] may be imposed. You must pay
this fee immediately upon receipt of the department's written invoice.
(3)[(4)] An annual assessment
will be imposed as an examination fee and as a renewal fee on
a perpetual care cemetery corporation to defray the cost of administering
the Act, as required by Sections 712.0037, 712.042 and
712.044(b) of the Act. The annual assessment will be collected pursuant
to 7 TAC §26.1(c)(1). The amount of your annual assessment is
based on your fund balance as reflected on the statement of funds
in the most recent annual [renewal] report you have filed
with the department. You must pay the annual assessment specified
in the following table:
Attached Graphic
[Figure: 7 TAC §26.1(b)(4)]
(4)[(5)] If you are a new certificate
holder and have not yet filed your first annual [renewal]
report, which includes the statement of funds required by Section
712.041 of the Act, you must pay an examination fee of $75.00 per
hour for each examiner and all associated travel expenses. Your subsequent
annual assessments will be calculated in accordance with paragraph (3)
[(4)] of this subsection.
(c)How will the department bill me for the annual
assessment [and the annual fees] and when must I pay it? [
them?]
(1)(No change.)
[(2)Your annual fee must be paid
with the filing of your annual statement of funds by ACH debit on
or before March 1st of each year.]
(2)[(3)] The annual assessment
[A fee] is considered paid as of the date the department
receives payment.
(d)Adjustments for inflation. In
this section, "GDPIPD" means the Gross Domestic Product Implicit Price
Deflator, published quarterly by the Bureau of Economic Analysis,
United States Department of Commerce. The "annual GDPIPD factor" is
equal to the percentage change in the GDPIPD index values published
for the first quarter of the current year compared to the first quarter
of the previous year (the March-to-March period immediately preceding
the calculation date), rounded to a hundredth of a percent (two decimal
places).
(1)Beginning September 1, 2020, and each September
1 thereafter, the table in subsection (b) of this section, as most
recently revised before such date pursuant to this subsection, may
be revised as follows:
(A)The base assessment amount listed in column three
of the table may be increased (or decreased) by an amount proportionate
to the measure of inflation (or deflation) reflected in the annual
GDPIPD factor, rounded to whole dollars; and
(B)Each factor listed in column three of the table
may be increased (or decreased) by an amount proportionate to the
measure of inflation (or deflation) reflected in the annual GDPIPD
factor, rounded to four decimal places for fund balances not over
$499,999.99 and five decimal places for fund balances of $500,000.00
or more.
(2)If the table in subsection (b) of this section
is revised for inflation (or deflation), then not later than August
1 of each year, the department shall calculate and prepare a revised
table reflecting the inflation-adjusted values to be applied effective
the following September 1 and will provide each certificate holder
with notice of and access to the revised table.
(e)[(d)] Must I pay for additional
examinations and if so how much and when?
(1) - (2)(No change.)
(f)[(e)] Are any fees refundable? Fees
paid under this section are nonrefundable.
(g)[(f)] What will happen if a fee is deemed
unlawful or in excess of the department's authority? If a fee or reimbursement
imposed or required by this section or the manner of its calculation
is determined to be unlawful or to exceed the department's authority
to adopt and impose, the remainder of the section is unaffected.
The agency certifies that legal counsel has reviewed
the proposal and found it to be within the state agency's legal
authority
to adopt.
Filed with the Office
of the Secretary of State on June 24, 2019
TRD-201901962 Catherine Reyer
General Counsel
Texas Department of Banking
Earliest possible date of adoption: August 4, 2019
For further information, please call: (512) 475-1301
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