About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

H.R. 2231, Offshore Energy and Jobs Act 1 (June 20, 2013)

handle is hein.congrec/cbo11192 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE June 20, 2013 H.R. 2231 Offshore Energy and Jobs Act As ordered reported by the House Committee on Natural Resources on June 12, 2013 SUMMARY H.R. 2231 would revise existing laws and policies regarding the development of oil and gas resources on the Outer Continental Shelf (OCS). It would direct the Department of the Interior (DOI) to adopt a new leasing plan for the 2015-2020 period, require auctions of leases in certain areas in the Atlantic and Pacific OCS, and reduce the department's discretion regarding which regions would be included in future lease sales. Under this bill, some of the offsetting receipts from leases issued in newly available areas would be spent, without further appropriation, to make payments to states. Finally, H.R. 2231 would direct DOI to collect fees from certain firms that operate in the OCS and to implement various administrative reforms. CBO estimates that enacting H.R. 2231 would reduce net direct spending by $1.5 billion over the 2014-2023 period. Pay-as-you-go procedures apply because enacting the legislation would reduce direct spending. In addition, CBO estimates that implementing the bill would cost $40 million over the 2013-2018 period, assuming appropriation of the necessary amounts. Enacting this bill would not affect revenues. H.R. 2231 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 impact of H.R. 2231 is shown in the following table. The costs of this legislation fall within budget functions 950 (undistributed offsetting receipts) and 300 (natural resources and the environment).

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most