34 Tex. Admin. Code § 15.33 - Determination of Settlement Date
(a)
Persons choosing ACH debit/direct entry as the TexNet payment option for EFT
may either accept the settlement date offered by the TexNet data collection
system or enter a settlement date up to 30 days in the future.
(1) If the person accepts the settlement date
offered by the TexNet data collection system, it will debit the person's bank
account on that date.
(2) If the
person chooses to enter a settlement date up to 30 days in the future, the
person's bank account will be debited on the designated settlement
date.
(b) For persons
choosing ACH debit/indirect entry as the TexNet payment option for EFT, the
settlement date will be the date designated in accordance with the instructions
established by the state agency and approved by the comptroller.
(c) Persons choosing ACH credit with addenda
as the TexNet payment option for EFT transfer must initiate payment through the
person's bank before the settlement date and the funds must be in the
comptroller's bank on the settlement date.
(d) A person who misses a payment deadline
may use wire transfer to transmit the payment as set out in §
15.41 of this title (relating to
Missed Payment Deadline Procedures).
Notes
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