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H.R. 2996, Revitalize American Manufacturing and Innovation Act of 2014 1 (September 15, 2014)

handle is hein.congrec/cbo1893 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE September 15, 2014 H.R. 2996 Revitalize American Manufacturing and Innovation Act of 2014 As ordered reported by the House Committee on Science, Space, and Technology on July 25, 2014 SUMMARY H.R. 2996 would establish the Network for Manufacturing Innovation Program (NMIP) within the National Institute of Standards and Technology (NIST). Under the program, NIST would award grants to establish a network of centers of innovation to improve the competitiveness of domestic manufacturers. H.R. 2996 also would reauthorize a program to develop regional clusters of businesses that operate in similar or complementary industries. Finally, the bill would require the Government Accountability Office (GAO) to assess the NMIP every two years and direct NIST to develop a strategic plan for advanced manufacturing that would be updated every four years. CBO estimates that implementing H.R. 2996 would cost $105 million over the 2015-2019 period, assuming appropriation actions consistent with the bill. Enacting H.R. 2996 also would affect direct spending; therefore, pay-as-you-go procedures apply. CBO estimates, however, that such effects would be insignificant. Enacting H.R. 2996 would not affect revenues. H.R. 2996 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA), and any costs to state, local, or tribal governments, including matching funds, would be incurred as conditions of receiving federal assistance. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effect of H.R. 2996 is shown in the following table. The costs of this legislation fall within budget functions 370 (commerce and housing credit) and 450 (community development).

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