HARRY HUGHES, Governor

3889

(3)  Each year, the board of trustees of this pension
system shall certify to the chief fiscal officer of each
participating municipal corporation [the proportion of the
expense of this pension system for the preceding fiscal
year, together with the necessary expenses of the trustees
of this pension system, that the payroll of the members
employed by the participating municipal corporation bears to
the aggregate of the payroll of all members] THE NORMAL
CONTRIBUTION RATE FOR ALL MEMBERS, THE ADJUSTMENT IN THE
RATE, THE NORMAL CONTRIBUTION FOR THE MUNICIPAL CORPORATION,
AND THE ACCRUED LIABILITY CONTRIBUTION FOR THE MUNICIPAL
CORPORATION.

(4)  [An amount] THE AMOUNTS certified under this
[subtitle] SECTION by the board of trustees to the chief
fiscal officer of a participating municipal corporation
shall be included in the next budget, appropriation, or levy
of the participating municipal corporation after the
certification by the board of trustees and shall be levied
and collected in the same manner as any other tax.

(5) (A) The treasurer or proper fiscal officer of each
participating municipal corporation shall pay to the board
of trustees the amount of the charges certified to the
participating municipal corporation by the board of trustees
as provided [and the amount of the deductions from the
compensation of the members who are officers or employees of
that participating municipal corporation]. The amounts
certified by the board of trustees shall be paid within 30
days after the receipt of the certificate [and deductions
from compensation of employees shall be paid in accordance
with § 122(1)(c) of this subtitle]. Any participating
municipal corporation that fails to pay the amounts
certified under this section within the time required by law
is liable for a penalty of 10 percent of the amounts due.
However, the secretary of the board may allow a grace period
not to exceed 10 additional calendar days. All amounts due
and unpaid on the date of payment also shall bear interest
at the rate of 10 percent a year until the date of payment.
The State Comptroller, on notification by the secretary that
a delinquency exists, immediately shall exercise the right
of setoff against any money due or to become due to the
delinquent participating municipal corporation.

(B) THE TREASURER OR PROPER FISCAL OFFICER OF
EACH PARTICIPATING MUNICIPAL CORPORATION, ALSO, SHALL PAY TO
THE BOARD OF TRUSTEES THE AMOUNT OF THE DEDUCTIONS FROM THE
COMPENSATION OF OFFICERS AND EMPLOYEES MADE IN ACCORDANCE
WITH SECTION 122(1)(C) OF THIS ARTICLE. ANY PARTICIPATING
MUNICIPAL CORPORATION THAT FAILS TO PAY THE AMOUNTS
CERTIFIED UNDER THIS SECTION WITHIN THE TIME REQUIRED BY LAW
IS LIABLE FOR A PENALTY OF 10 PERCENT OF THE AMOUNTS DUE.
HOWEVER, THE SECRETARY OF THE BOARD MAY ALLOW A GRACE PERIOD
NOT TO EXCEED 10 ADDITIONAL CALENDAR DAYS. ALL AMOUNTS DUE
AND UNPAID ON THE DATE OF PAYMENT ALSO SHALL BEAR INTEREST