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S. 2250, Travel Promotion, Enhancement, and Modernization Act of 2014 1 (July 30, 2014)

handle is hein.congrec/cbo1842 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE at COST ESTIMATE July 30, 2014 S. 2250 Travel Promotion, Enhancement, and Modernization Act of 2014 As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 23, 2014 SUMMARY S. 2250 would extend the provisions of the Travel Promotion Act of 2009 (Public Law 111-145), which established the Corporation for Travel Promotion (also known as Brand USA), through September 30, 2020, and impose new performance and procurement requirements on the corporation. The bill also would extend the authority of U.S. Customs and Border Protection (CBP) to collect travel promotion fees from certain foreign individuals traveling to the United States. Those fees are used to partially fund Brand USA. CBO estimates that enacting S. 2250 would increase direct spending by $467 million and revenues by $731 million over the 2015-2024 period, resulting in a net decrease in the deficit of $264 million over the 10-year period. Pay-as-you-go procedures apply because enacting the legislation would affect direct spending and revenues. CBO estimates that implementing S. 2250 would not significantly affect discretionary spending. S. 2250 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 effect of 5. 2250 is shown in the following table. The costs of this legislation fall within budget function 370 (commerce and housing credit).

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