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H.R. 4662, Bureau Advisory Opinion Act 1 (December 2, 2014)

handle is hein.congrec/cbo2004 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE December 2, 2014 H.R. 4662 Bureau Advisory Opinion Act As ordered reported by the House Committee on Financial Services on June 11, 2014 SUMMARY H.R. 4662 would direct the Bureau of Consumer Financial Protection (CFPB) to respond to specific inquiries about whether prospective activities comply with consumer financial laws. In preparing those responses, the CFPB would be required to provide a notice and comment period in order to gain the views of interested parties. CBO estimates that enacting H.R. 4662 would increase direct spending by the CFPB by $815 million over the 2015-2024 period; therefore, pay-as-you-go procedures apply. Enacting H.R. 4662 would not affect revenues or spending subject to appropriation. H.R. 4662 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would not affect the budgets of state, local, or tribal governments. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effect of H.R. 4662 is shown in the following table. The costs of this legislation fall within budget function 370 (commerce and housing credit). By Fiscal Year, in Millions of Dollars 2015- 2015- 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2019 2024 CHANGES IN DIRECT SPENDING Estimated Budget Authority 22 43 89 91 93 95 97 99 101 103 338 831 Estimated Outlays 19 40 82 91 93 94 96 98 100 102 325 815 Note: Components may not sum to totals because of rounding. a

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