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H.R. 3802, a Bill to Extend the Legislative Authority of the Adams Memorial Foundation to Establish a Commemorative Work in Honor of Former President John Adams and His Legacy, and for Other Purposes 1 (May 9, 2014)

handle is hein.congrec/cbo1654 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE 0COST ESTIMATE May 9, 2014 H.R. 3802 A bill to extend the legislative authority of the Adams Memorial Foundation to establish a commemorative work in honor of former President John Adams and his legacy, and for other purposes As ordered reported by the House Committee on Natural Resources on April 9, 2014 H.R. 3802 would extend, through December 2, 2020, the authority of the Adams Memorial Foundation (a private nonprofit organization) to construct a commemorative work on federal lands within the District of Columbia honoring former President John Adams and his family. The authorization for the commemorative work related to the Adams family expired on December 2, 2013. CBO estimates that enacting H.R. 3802 would have no significant effect on the federal budget. The commemorative work, which would be carried out without the use of federal funds, would be subject to the requirements of the Commemorative Works Act. Under that act, any entity that receives a permit to construct a memorial in the District of Columbia or its environs must donate to the federal government an amount equal to 10 percent of the memorial's estimated construction cost. That amount, as well as any project funds remaining after construction of the memorial, would be subsequently transferred, without further appropriation, to the National Park Foundation (a nonfederal entity) to support ongoing maintenance of the memorial. Based on the experience of similar commemorative projects, CBO expects that any amounts collected by the federal government would not be received for several years and would be offset by transfers to the National Park Foundation soon thereafter. Because enacting H.R. 3802 would affect direct spending, pay-as-you-go procedures apply. However, CBO estimates that such effects would be insignificant. Enacting the bill would not affect revenues. H.R. 3802 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. The CBO staff contact for this estimate is Martin von Gnechten. The estimate was approved by Theresa Gullo, Deputy Assistant Director for Budget Analysis.

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