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H.R. 4413, Customer Protection and End User Relief Act 1 (May 19, 2014)

handle is hein.congrec/cbo1686 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE UCOST ESTIMATE May 19, 2014 H.R. 4413 Customer Protection and End User Relief Act As ordered reported by the House Committee on Agriculture on April 9, 2014 SUMMARY H.R. 4413 would authorize appropriations for the Commodity Futures Trading Commission (CFTC) through 2018 and make changes in some of the agency's operating procedures. The bill also would amend the Commodity Exchange Act to provide greater protections for customer funds held by entities that broker transactions in commodity futures and to relax requirements on certain participants in swap transactions in a number of different circumstances. (A swap is a contract that calls for an exchange of cash between two participants, based on an underlying rate or index or on the performance of an asset.) CBO estimates that implementing H.R. 4413 would cost $207 million in 2015 and $948 million over the 2015-2019 period, assuming appropriation of the necessary amounts. CBO expects that enacting H.R. 4413 would affect direct spending and revenues; therefore, pay-as-you-go procedures apply. However, CBO estimates that those effects would not be significant. H.R. 4413 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effect of H.R. 4413 is shown in the following table. The costs of this legislation fall within budget function 370 (commerce and housing credit).

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