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H.R. 6029, Foreign and Economic Espionage Penalty Enhancement Act of 2012 [1] (July 17, 2012)

handle is hein.congrec/cbo10854 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE July 17, 2012 H.R. 6029 Foreign and Economic Espionage Penalty Enhancement Act of 2012 As ordered reported by the House Committee on the Judiciary on July 10, 2012 H.R. 6029 would increase the maximum penalties, including fines, for revealing trade secrets to foreign entities and would direct the United States Sentencing Commission (USSC) to review and, if necessary, amend sentencing guidelines for economic espionage. Based on information provided by the USSC, CBO estimates that implementing H.R. 6029 would have no significant impact on the federal budget. Enacting H.R. 6029 could affect direct spending and revenues; therefore, pay-as-you-go procedures apply. However, CBO estimates that the net effects would be insignificant for each year. Because those prosecuted and convicted under H.R. 6029 could be subject to criminal fines, the federal government might collect additional fines if the legislation is enacted. Criminal fines are recorded as revenues, deposited in the Crime Victims Fund, and later spent. CBO expects that any additional revenues and direct spending would not be significant because of the small number of cases likely affected. H.R. 6029 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments. On January 24, 2012, CBO transmitted a cost estimate for S. 678, the Economic Espionage Penalty Enhancement Act, as reported by the Senate Committee on the Judiciary on December 8, 2011. The two bills are similar, and the CBO cost estimates are the same. The CBO staff contact for this estimate is Mark Grabowicz. The estimate was approved by Theresa Gullo, Deputy Assistant Director for Budget Analysis.

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