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H.R. 1003, a Bill to Improve Consideration by the Commodity Futures Trading Commission of the Costs and Benefits of Its Regulations and Orders 1 (April 1, 2013)

handle is hein.congrec/cbo11034 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE April 1, 2013 H.R. 1003 A bill to improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders As ordered reported by the House Committee on Agriculture on March 20, 2013 SUMMARY H.R. 1003 would broaden the items for the Commodity Futures Trading Commission (CFTC) to consider when assessing costs and benefits of a proposed regulation. Further, the bill would require the agency to adopt such a regulation only if it determines that the estimated benefits justify the estimated costs. Based on information from the CFTC, CBO estimates that implementing H.R. 1003 would cost $28 million over the 2014-2018 period, assuming appropriation of the necessary amounts. Enacting H.R. 1003 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply. H.R. 1003 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would not affect the budgets of state, local, or tribal governments. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary impact of H.R. 1003 is shown in the following table. The costs of this legislation fall within budget function 370 (commerce and housing credit). By Fiscal Year, in Millions of Dollars 2014- 2014 2015 2016 2017 2018 2018 CHANGES IN SPENDING SUBJECT TO APPROPRIATION Estimated Authorization Level 5 6 6 6 Estimated Outlays 4 6 6 6 7 6 30 28

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