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S. 1935, Waterfront Community Revitalization and Resiliency Act of 2015 1 (April 11, 2016)

handle is hein.congrec/cbo2873 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE April 11, 2016 S. 1935 Waterfront Community Revitalization and Resiliency Act of 2015 As ordered reported by the Senate Committee on Commerce, Science, and Transportation on December 9, 2015 S. 1935 would require the Department of Commerce (DOC) to develop criteria to designate as a resilient waterfront community, any community that voluntarily develops plans to revitalize and strengthen their unique water-related economic and ecological resources. The Economic Development Administration (EDA) and National Oceanic and Atmospheric Administration (NOAA) are agencies within the DOC that work directly with local communities to foster economic development and provide accurate and timely data on the environmental risks facing local waterfront communities. Under the bill, NOAA in coordination with EDA would develop guidance for local waterfront communities that choose to develop a revitalization plan. The agencies also would evaluate plans submitted by communities and classify them as resilient waterfront communities, develop and maintain a network to facilitate the sharing of best practices among those communities, identify public and private investments that would further the goals of the resilient waterfront plans, and upon request, assist local communities with implementing the goals. On the basis of information from the DOC, CBO estimates that implementing S. 1935 would require 3 or 4 full-time equivalent employees at a cost of about $600,000 a year to develop guidelines and administer the program. Such spending would be subject to the availability of appropriated funds. Because enacting S. 1935 would not affect direct spending or revenues, pay-as-you-go procedures do not apply. CBO estimates that enacting the bill would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027. S. 1935 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would benefit local and tribal governments designated as water communities. Any costs incurred by those entities, including matching contributions, would be incurred voluntarily. The CBO staff contact for this estimate is Aurora Swanson. The estimate was approved by H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis.

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