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S. 2759, a Bill to Release the City of St. Clair, Missouri, from All Restrictions, Conditions, and Limitations on the Use, Encumbrance, Conveyance, and Closure of the St. Clair Regional Airport 1 (November 13, 2014)

handle is hein.congrec/cbo2012 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE November 13, 2014 S. 2759 A bill to release the city of St. Clair, Missouri, from all restrictions, conditions, and limitations on the use, encumbrance, conveyance, and closure of the St. Clair Regional Airport As ordered reported by the Senate Committee on Commerce, Science, and Transportation on September 17, 2014 S. 2759 would direct the Federal Aviation Administration (FAA) to release the city of St. Clair, Missouri, from certain requirements that currently apply to use of the St. Clair Regional Airport. Under the bill, the proposed release would not take effect until the city transfers to the Missouri Department of Transportation certain sums of money as specified in the bill, including the unexpended portion of federal grants paid to the city for capital improvements at the airport. CBO estimates that enacting S. 2759 would have no significant effect on the federal budget. According to the FAA, the unexpended portion of federal grants that remain available to the airport total roughly $300,000. Under the bill, those amounts would be retained by the state of Missouri and spent at other regional airports in that state. Because the bill could affect the timing of outlays from existing balances, pay-as-you procedures apply, but CBO estimates that any net change in the timing of outlays would be negligible over the next few years. Enacting S. 2759 would not affect revenues. S. 2759 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act. The CBO staff contact for this estimate is Megan Carroll. The estimate was approved by Theresa Gullo, Deputy Assistant Director for Budget Analysis.

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