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H.R. 740, Southeast Alaska Native Land Entitlement Finalization and Jobs Protection Act 1 (August 22, 2013)

handle is hein.congrec/cbo11239 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE August 22, 2013 H.R. 740 Southeast Alaska Native Land Entitlement Finalization and Jobs Protection Act As ordered reported by the House Committee on Natural Resources on June 12, 2013 H.R. 740 would authorize the Southeast Alaska Native Corporation (Sealaska) to select the remainder of its land entitlement from federal lands outside the area originally delineated for that purpose by the Alaska Native Claims Settlement Act. Based on information from the Forest Service, CBO estimates that enacting H.R. 740 would result in a net loss of $4 million in timber receipts over the 2014-2023 period (such losses would increase direct spending). Because enacting the legislation would affect direct spending, pay-as-you-go procedures apply. Enacting H.R. 740 would not affect revenues. Under the bill, Sealaska would be permitted to choose its remaining land entitlement from about 70,000 acres of old and second-growth forest land. Though the legislation would not grant additional lands to Sealaska, it would allow Sealaska to select from federal lands that are not available under current law and that are expected to generate timber receipts for the Treasury; in contrast, the lands available under current law are not expected to generate receipts to the Treasury. Proceeds from the sale of timber on federal land are deposited in the Treasury as offsetting receipts (a credit against direct spending). CBO estimates that enacting H.R. 740 would result in about 18,000 fewer federal acres being harvested for timber over the 2014-2023 period. CBO estimates that this reduction in timber harvests would reduce offsetting receipts by $18 million over the 2014-2023 period. The Forest Service has the authority to spend a portion of those receipts without further appropriation. Thus, CBO estimates that enacting the bill would reduce net offsetting receipts to the Treasury by $4 million over the 2014-2023 period and additional amounts after 2023. The Statutory Pay-As-You-Go Act of 2010 establishes budget-reporting and enforcement procedures for legislation affecting direct spending or revenues. HIR. 740 would reduce offsetting receipts; therefore, pay-as-you-go procedures apply. The net changes in outlays that are subject to those pay-as-you-go procedures are shown in the following table.

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