House committee substitute makes the following changes to 1st edition. Adds provision to reporting requirements in GS 135-3(8)c1 and GS 128-24(5)c1. to allow the Board to reduce the penalty assessed against an employer for the failure to abide by the reporting requirements concerning the reemployment of retirement system beneficiaries if the employer can show, by clear and convincing evidence, that the failure to report resulted from a lack of oversight or some other event beyond the employer’s control and was not a deliberate attempt to omit the reporting of reemployed beneficiaries. Clarifies that these changes are effective July 1, 2009, and apply to penalties assessed on or after that date.