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H.R. 5303, Water Resources Development Act of 2016 [i] (November 21, 2016)

handle is hein.congrec/cbo3283 and id is 1 raw text is: O CONGRESSIONAL BUDGET OFFICE Keith Hall, Director U.S. Congress Washington, DC 20515 November 21, 2016 Honorable Bill Shuster Chairman Committee on Transportation and Infrastructure U.S. House of Representatives Washington, DC 20515 Re: CBO cost estimate for the H.R. 5303, the Water Resources Development Act of 2016, as passed by the House of Representatives on September 28, 2016. Dear Mr. Chairman, As you requested, the Congressional Budget Office (CBO) has reviewed H.R. 5303, the Water Resources Development Act of 2016 as passed by the House of Representatives on September 28, 2016. CBO's estimate of the budgetary effects of enacting the legislation are included in the enclosed tables. CBO estimates that: Assuming appropriations actions consistent with the legislation, and accounting for anticipated inflation, CBO estimates that implementing the provisions of the legislation would cost $2.8 billion over the 2017-2021 period and $6.3 billion over the 2017-2026 period (see Table 1). Most of the costs would stem from providing the Corps of Engineers (Corps) authority to construct 30 new projects and implement modifications to six projects to mitigate storm and hurricane damage, improve navigation, and restore estuaries. * The legislation would increase offsetting receipts in 2017 by directing the Corps to accept a lump sum payment from the Trinity River Authority in Texas to prepay its remaining debt obligations to the federal government and by transferring certain property to the Department of the Interior to be held in trust for the benefit of the Muscogee Nation in Oklahoma in exchange for payment of the fair market value of the property. CBO estimates that implementing those provisions would reduce net direct spending by $33 million over the 2017-2026 period (see Table 2).

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