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H.R. 2860, OPM IG Act 1 (November 4, 2013)

handle is hein.congrec/cbo11367 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE November 4, 2013 H.R. 2860 OPM IG Act As ordered reported by the House Committee on Oversight and Government Reform on October 29, 2013 H.R. 2860 would permit the Office of Personnel Management's (OPM's) Office of the Inspector General (IG) to receive funding through the OPM Revolving Fund. The bill also would set a limit on the funds available. Under current law, the OPM Revolving Fund provides about $2 billion a year for a variety of functions, including background investigations to determine an individual's suitability for a security clearance, but the IG is not permitted to use those funds to audit and provide oversight of the fund's finances. Based on information from the OPM IG, CBO estimates that implementing this legislation would enable the IG to begin auditing the OPM Revolving Fund at a cost of $13 million over the 2014-2018 period, assuming appropriation of the necessary funds. Enacting the bill would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply. H.R. 2860 would impose 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 August 23, 2013, CBO transmitted a cost estimate for S. 1276, the Security Clearance Oversight and Reform Enhancement Act, as ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 31, 2013. Both bills contain similar provisions, and their estimated costs are the same. The CBO staff contact for this estimate is Matthew Pickford. The estimate was approved by Theresa Gullo, Deputy Assistant Director for Budget Analysis.

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