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CBO Cost Estimate - H.R. 1837 1 (February 27, 2012)

handle is hein.congrec/cbo10665 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE February 27, 2012 H.R. 1837 Sacramento-San Joaquin Valley Water Reliability Act As ordered reported by the House Committee on Natural Resources on February 16, 2012 SUMMARY H.R. 1837 would amend the Central Valley Project Improvement Act (CVPIA) and the San Joaquin River Restoration Settlement Act to change water management plans and environmental restoration goals for the Central Valley region in central California. Based on information from the Bureau of Reclamation and local water districts in California, CBO and staff of the Joint Committee on Taxation (JCT) estimate that enacting the bill would increase offsetting receipts (a credit against direct spending) by $254 million and decrease revenues by $33 million over the 2013-2022 period. Together, those changes would reduce future budget deficits by $221 million over the next 10 years, CBO estimates. Because the legislation would affect direct spending and revenues, pay-as-you-go procedures apply. In addition, CBO estimates that implementing the legislation would reduce discretionary spending for restoration activities associated with the San Joaquin River by $190 million over the 2013-2017 period, assuming appropriation actions consistent with the authorization levels in the bill. H.R. 1837 would impose intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA) by preempting state laws and requiring or prohibiting some activities related to water management and wildlife preservation. Based on information from state and local agencies, CBO estimates that the cost for the state of California to comply with those mandates would not exceed the annual thresholds established in UMRA ($73 million in 2012, adjusted annually for inflation). The legislation contains no private-sector mandates. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary impact of H.R. 1837 is shown in the following table. The costs of this legislation fall within budget function 300 (natural resources and environment).

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