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H.R. 3036, 9/11 Memorial Act 1 (February 5, 2016)

handle is hein.congrec/cbo2722 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE February 5, 2016 H.R. 3036 9/11 Memorial Act As reported by the House Committee on Natural Resources on February 3, 2016 H.R. 3036 would designate the National September 11 Memorial located at the World Trade Center in New York City, New York, as a national memorial. However, under the bill the memorial would not be a unit of the National Park Service. Instead, the bill would authorize the Secretary of the Interior to award a competitive grant to a private entity to operate and maintain a memorial established to commemorate the terrorist attacks of 1993 and 2001. The authority to provide grants would expire seven years after the bill's enactment. Based on the operating budget of the September 11 Memorial, CBO estimates that annual grant funding under the bill would total about $25 million per year. Assuming that the bill is enacted near the end of fiscal year 2016 and that appropriations of the necessary amounts are provided, CBO estimates that implementing H.R. 3036 would cost $80 million over the 2017-2021 period and $95 million after 2021. Enacting H.R. 3036 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply. CBO estimates that enacting H.R. 3036 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year period beginning in 2027. H.R. 3036 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments. The CBO staff contact for this estimate is Marin Bumett. The estimate was approved by H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis.

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