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H.R. 899, Unfunded Mandates Information and Transparency Act of 2013 1 (August 1, 2013)

handle is hein.congrec/cbo11312 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE August 1, 2013 H.R. 899 Unfunded Mandates Information and Transparency Act of 2013 As ordered reported by the House Committee on Oversight and Government Reform on July 24, 2013 SUMMARY H.R. 899 would amend the Unfunded Mandates Reform Act of 1995 (UMRA) to increase the information available to the Congress and the public with respect to federal mandates contained in proposed legislation and federal regulations. Enacting this legislation would codify in UMRA many practices currently required of most federal agencies when analyzing the potential impact of regulations. The bill also would require independent regulatory agencies to perform broad analyses (including costs and benefits) of regulations by requiring those agencies to comply with standards established in UMRA relating to the rulemaking process. The legislation would amend the Congressional Budget Act to establish a point of order, which a Member of Congress may raise, against legislation that creates a private-sector mandate with costs above the threshold established in UMRA.' In addition, the legislation would require CBO to conduct assessments of costs to state, local, and tribal governments resulting from any changes to conditions of certain federal assistance programs. CBO estimates that the new requirements placed on independent regulatory agencies, such as the Federal Deposit Insurance Corporation (FDIC), would require additional resources to carry out. Expenses of the FDIC are classified as direct spending; therefore, pay-as-you-go procedures apply. Because costs incurred by the FDIC would be offset by premiums collected from insured depository institutions, CBO estimates that enacting H.R. 899 would result in no net effect on direct spending over the 20 14-2023 period. Assuming the appropriation of necessary amounts, the legislation also would have a discretionary cost of $4 million over the 2014-2018 period, CBO estimates. 1. The intergovemnmental and private-sector thresholds established in UMRA were $50 milliun and $100 milliun, respectively in 1996, adjusted annually for inflation. In 2013, the thresholds are $75 million for intergovernmental mandates and $150 million for private-sector mandates.

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