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H.R. 1992, American Soda Ash Competitiveness Act 1 (July 29, 2015)

handle is hein.congrec/cbo2408 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE July 29, 2015 H.R. 1992 American Soda Ash Competitiveness Act As ordered reported by the House Committee on Natural Resources on June 11, 2015 SUMMARY H.R. 1992 would require the Department of the Interior to charge a 2 percent royalty on the value of soda ash and related sodium compounds produced on federal lands for a five-year period following enactment of the bill. Under current law, CBO expects the average royalty rate to be about 6 percent, beginning in 2016. About half of the royalties collected by the federal government are paid to the states where the minerals are produced. Thus, enacting the bill would reduce both offsetting receipts (a credit against direct spending) and the subsequent payments to states stemming from those royalties. As a result, CBO estimates that enacting H.R. 1992 would increase net direct spending by $80 million over the 2016-2020 period; therefore, pay-as-you-go procedures apply. Enacting H.R. 1992 would not affect revenues. H.R. 1992 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 impact of H.R. 1992 is shown in the following table. The costs of this legislation fall within budget function 300 (natural resources and environment). By Fiscal Year, in Millions of Dollars 2016- 2016- 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2020 2025 CHANGES IN DIRECT SPENDING Estimated Budget Authority 16 16 16 16 16 0 0 0 0 0 80 80 Estimated Outlays 16 16 16 16 16 0 0 0 0 0 80 80 ab

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