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S. 2012, Energy Policy Modernization Act of 2015 1 (October 15, 2015)

handle is hein.congrec/cbo2598 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE October 15, 2015 S. 2012 Energy Policy Modernization Act of 2015 As reported by the Senate Committee on Energy and Natural Resources on September 9, 2015 SUMMARY S. 2012 would amend current law and authorize appropriations for a variety of activities and programs administered primarily by the Department of Energy (DOE). The legislation also would: * Expand and extend federal agencies' authority to use certain types of long-term contracts to invest in energy conservation measures and related services; * Specify various energy-related goals and requirements for federal agencies; * Modify DOE's authority to guarantee loans under Title 17 of the Energy Policy Act of 2005; and * Establish a pilot program to streamline the review and approval of applications for permits to drill for oil and gas on federal lands. Assuming appropriation of amounts specifically authorized and estimated to be necessary under S. 2012-roughly $40 billion over the 2016-2020 period (and an additional $3 billion in later years)-CBO estimates that implementing this legislation would result in outlays totaling $32 billion over the 2016-2020 period from those appropriations, with additional spending of about $11 billion occurring after 2020. CBO also estimates that the bill would result in additional direct spending. The estimated amount of direct spending depends on the budgetary treatment of federal commitments through certain types of long-term energy-related contracts, which CBO expects would increase under the bill. In CBO's view, commitments under such contracts are a form of direct spending because agencies enter into such contracts without appropriations in advance to cover their full costs. On the basis of that view, CBO estimates that enacting S. 2012 would increase direct spending by $659 million over the 2016-2025 period.

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