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H.R. 3030, Baudette Coast Guard Housing Conveyance Act 1 (March 15, 2016)

handle is hein.congrec/cbo2861 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE March 15, 2016 H.R. 3030 Baudette Coast Guard Housing Conveyance Act As ordered reported by the House Committee on Transportation and Infrastructure on March 2, 2016 H.R. 3030 would require the United States Coast Guard (USCG) to sell four properties to the city of Baudette, Minnesota, for their fair market value and would impose conditions on the use of those properties. According to the USCG, the homes affected by the legislation are currently vacant, do not generate any rental income for the agency, and have a total appraised value of $271,000. H.R. 3030 would require the purchaser of the properties to use them for affordable housing to benefit the city. CBO expects that those restrictions would reduce the fair market value of the properties. Because enacting H.R. 3030 could reduce direct spending by increasing receipts to the government, pay-as-you-go procedures apply. However, CBO estimates that the proceeds from the sale would be insignificant. Enacting the bill would not affect revenues. CBO estimates that enacting H.R. 3030 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027. H.R. 3030 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would benefit the city of Baudette. Any costs incurred by the city would be voluntary. The CBO staff contact for this estimate is Sarah Puro. The estimate was approved by H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis.

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