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H.R. 5139, a bill to correct the boundaries of the John H. Chafee Coastal Barrier Resources System Unit P16 1 (October 7, 2014)

handle is hein.congrec/cbo1924 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE 0 COST ESTIMATE October 7, 2014 H.R. 5139 A bill to correct the boundaries of the John H. Chafee Coastal Barrier Resources System Unit P16 As ordered reported by the House Committee on Natural Resources on September 18, 2014 H.R. 5139 would update a map for a portion of the Coastal Barrier Resources System (CBRS) located in Florida. Based on information provided by the U.S. Fish and Wildlife Service (USFWS), CBO estimates that implementing the legislation would have no significant effect on the federal budget. Because H.R. 5139 could affect direct spending, pay-as-you-go procedures apply. However, we estimate that any net change in direct spending would be negligible over the 2015-2024 period. Enacting the bill would not affect revenues. The bill would revise the CBRS map for a unit within the system and remove certain land from the CBRS. The amount of lands that would be removed from the CBRS under the bill is uncertain because the USFWS has not completed the revised map. However, based on information from the agency, CBO expects that the new map would exclude lands containing between 20 and 50 structures, which would enable owners of those structures to purchase federal flood insurance. CBO estimates that, relative to current law, enacting H.R. 5139 could increase premium collections of the National Flood Insurance Fund by less than $150,000 annually. Such collections would be offset by new mandatory spending for underwriting and administrative expenses and new flood insurance claims over the 2015-2024 period. H.R. 5139 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would impose no costs on state, local, or tribal governments. The CBO staff contact for this estimate is Jeff LaFave. The estimate was approved by Theresa Gullo, Deputy Assistant Director for Budget Analysis.

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