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S. 718, a Bill to Modify the Boundary of Petersburg National Battlefield in the Commonwealth of Virginia, and for Other Purposes 1 (August 9, 2016)

handle is hein.congrec/cbo3108 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE August 9, 2016 S.718 A bill to modify the boundary of Petersburg National Battlefield in the Commonwealth of Virginia, and for other purposes As ordered reported by the Senate Committee on Energy and Natural Resources on July 13, 2016 S. 718 would revise the boundary of the Petersburg National Battlefield in Virginia to include 12 additional Civil War battlefield areas over approximately 7,200 acres. The bill stipulates that the National Park Service (NPS) may acquire the additional land through a donation, with donated funds, with appropriated amounts, or through a land exchange. The bill also would exchange administrative jurisdiction over two small parcels of land between the Department of the Army and the Department of the Interior and would raise from 21 acres to 23 acres a limitation on the acreage NPS can acquire from a specific parcel. Based on recent sales prices of comparable tracts of land and information from NPS, CBO estimates that the cost to acquire and administer the additional sites would be between $15 million and $30 million over the 2017-2021 period. Total costs would depend on the average price per acre which, according to land transactions data, could range from $2,000 per acre to $4,000 per acre. Because enacting S. 718 would not affect direct spending or revenues, pay-as-you-go procedures do not apply. CBO estimates that enacting S. 718 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027. S. 718 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would impose no costs on state, local, or tribal governments. On April 26, 2016, CBO transmitted a cost estimate for H.R. 1621, as ordered reported by the House Committee on Natural Resources on March 16, 2016. The two pieces of 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 H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis.

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