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H.R. 1475, Korean War Veterans Memorial Wall of Remembrance Act 1 (August 8, 2016)

handle is hein.congrec/cbo3096 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE August 8, 2016 H.R. 1475 Korean War Veterans Memorial Wall of Remembrance Act As reported by the Senate Committee on Energy and Natural Resources on July 14, 2016 H.R. 1475 would authorize the expansion of the Korean War Veterans Memorial in Washington, D.C. Under the bill, the memorial would be expanded to include a Wall of Remembrance that would commemorate U.S. and United Nations forces who were killed, wounded, found to be missing in action, or were taken as prisoners of war during the Korean War. Under the bill, construction of the project would be funded with private donations. However, the National Park Service (NPS) would be responsible for maintaining the addition once it is completed. Based on information from the NPS, CBO expects that the project would not be completed for a few years because funds are not currently sufficient to begin construction. CBO estimates that implementing the legislation would have an insignificant cost to the federal government over the 2017-2021 period, mostly because maintenance costs would not be incurred until the memorial has been completed. Because enacting H.R. 1475 would not affect direct spending or revenues, pay-as-you-go procedures do not apply. CBO estimates that enacting H.R. 1475 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027. H.R. 1475 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. On February 19, 2016, CBO transmitted a cost estimate for H.R. 1475 as ordered reported by the House Committee on Natural Resources on February 3, 2016. The two versions of the legislation are similar and CBO's estimates of their budgetary effects are the same. The CBO staff contact for this estimate is Jon Sperl. The estimate was approved by Theresa Gullo, Assistant Director for Budget Analysis.

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