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H.R. 4742, Strengthening Fishing Communities and Increasing Flexibility in Fisheries Management Act 1 (September 11, 2014)

handle is hein.congrec/cbo1891 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE September 11, 2014 H.R. 4742 Strengthening Fishing Communities and Increasing Flexibility in Fisheries Management Act As ordered reported by the House Committee on Natural Resources on May 29, 2014 SUMMARY H.R. 4742 would amend the Magnuson-Stevens Fishery Conservation and Management Act (MSA) and authorize the appropriation of $1.6 billion through 2018 to carry out that act. The bill also would direct the Secretary of Commerce, upon an affirmative vote in a referendum, to amend the terms for repayment of an advance made in 2003 to buy back fishing permits in the Pacific Coast fishery for groundfish. Finally, the legislation would set a new limit on fees that are assessed on members of the affected fishery to repay the advance. CBO estimates that implementing H.R. 4742 would cost $1.5 billion over the 2015-2019 period and $72 million after 2019, assuming appropriation of the authorized amounts. CBO estimates that implementing the bill would increase direct spending by $7 million over the 2015-2024 period; therefore, pay-as-you-go procedures apply. Enacting the bill would not affect revenues. H.R. 4742 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effect of H.R. 4742 is shown in the following table. The costs of this legislation fall within budget functions 300 (natural resources and environment) and 370 (commerce and housing credit).

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