(a)Definitions. The following words and terms, when
used in this section, will have the following meanings, unless the
text clearly indicates otherwise.
(1)"Act" means [Act--] Health
and Safety Code, Chapter 712, as amended.
(2)"Examination" means [Examination--]
the department's review and evaluation of the books and records of
a perpetual care cemetery corporation by on-site examination or off-site
review pursuant to §712.044(a) [Section 712.044(a)]
of the Act.
(3)"You," "Your," or "I" means [You,
Your, I--] the owner or operator of a perpetual care cemetery.
(4)"Fund balance" means [Fund balance--]
the total amount of perpetual care monies that are required to be
deposited in your perpetual care fund under the Act, excluding capital
gains, capital losses, undistributed interest income and any voluntary
contributions.
(5)"Fiscal year" means [Fiscal year--]
the 12-month period from September 1st to August 31st.
(6)"Certificate of authority" means [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.
(7)"GDPIPD factor" means the annual
factor that is equal to the percentage change in the Gross Domestic
Product Implicit Price Deflator index values published quarterly by
the Bureau of Economic Analysis, United States Department of Commerce
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).
(8)"Department" means the Texas Department
of Banking.
(b)If I want to operate a perpetual care cemetery,
what fees must I pay to the department?
(1)A filing fee of $500 must be paid with your application
for a certificate of authority to operate a perpetual care cemetery
as required by §712.0033(a) [Section 712.0033(a)]
of the Act.
(2)If the department does not receive your completed
annual report 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 may be imposed. You must pay this fee
immediately upon receipt of the department's written invoice.
(3)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 §712.042 and §712.044(b) [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 report you have filed
with the department. You must pay the annual assessment specified
in the following table:
Figure: 7 TAC §26.1(b)(3) (No change.)
(4)If you are a new certificate holder and have not
yet filed your first annual report, which includes the statement of
funds required by §712.041 [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) of this subsection.
(c)How will the department bill me for the annual
assessment and by when must I pay it?
(1) - (2)(No change.)
(d)Adjustments for inflation or deflation. [
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 [(or decreased)
] by an amount proportionate to the measure of inflation or
deflation [(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 [(or decreased)]
by an amount proportionate to the measure of inflation or deflation [
(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, [(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)Must I pay for additional examinations and if so,
how much and when?
(1) - (2)(No change.)
(f) - (g)(No change.)
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 October 28, 2022
TRD-202204257 Catherine Reyer
General Counsel
Texas Department of Banking
Earliest possible date of adoption: December 11, 2022
For further information, please call: (512) 475-1301
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