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S. 612, Water Infrastructure Improvements for the Nation Act [i] (December 6, 2016)

handle is hein.congrec/cbo3284 and id is 1 raw text is: Congressional Budget Office December 6, 2016 Direct Spending and Revenue effects for S. 612, the Water Infrastructure Improvements for the Nation Act RULES COMMITTEE PRINT 114-69, December 5, 2016 (by fiscal year, in millions of dollars) 2017- 2017- 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2021 2026 CHANGES IN DIRECT SPENDING Title I - Water Resources Developmenta Estimated Budget Authority -32 1 1 1 1 1 1 1 1 1 -28 -23 Estimated Outlays -32 1 1 1 1 1 1 1 1 1 -28 -23 Title III - Natural Resources, Net Change in Water Contract Repaymentsb Estimated Budget Authority -170 -350 -396 -165 39 83 82 81 81 80 -1,042 -635 Estimated Outlays -170 -350 -396 -165 39 83 82 81 81 80 -1,042 -635 Total Changes in Direct Spending Estimated Budget Authority -202 -349 -395 -164 40 84 83 82 82 81 -1,070 -658 Estimated Outlays -202 -349 -395 -164 40 84 83 82 82 81 -1,070 -658 CHANGES IN REVENUES Changes in Estimated Revenuesa'c -2 -4 -7 -9 -11 -11 -11 -11 -11 -22 -77 NET INCREASE OR DECREASE (-) IN THE DEFICIT FROM CHANGES IN DIRECT SPENDING AND REVENUES Changes in Deficits -202 -347 -391 -157 49 95 94 93 93 92 -1,048 -581 Sources Congressional Budget Office and staff of Joint Committee on Taxation. Notes: Components may not sum to totals because of rounding; * = revenue loss of less than $500,000. CBO has not completed an estimate of the effect of S. 612 on spending that is subject to appropriation. a. Enacting certain provisions of title I would reduce direct spending (by increasing offsetting receipts) by transfering land adjacent to Sardis Lake in Mississippi to a nonfederal entity in exchange for the market value of the land (estimated value of $1 million) and allowing for the repayment of amounts owed by the Trinity River Authority in Texas to the federal government for water storage by the end of calendar year 2016 ($31 million). Enacting other provisions of title I would increase direct spending by directing the Corps of Engineers to enter into agreements with nonfederal entities to jointly manage parks and recreational facilities and authorizing those entities to collect and retain fees that the Corps currently deposits in the Treasury (an estimated reduction in receipts of about $4 million), and prohibiting the Corps of Engineers from collecting fees from certain non-profit organizations for easements across water projects for electric, telephone, or broadband service facilities (an estimated reduction in receipts of about $5 million). b. Section 4011 of title III would direct the Bureau of Reclamation to convert service contracts with water districts in 17 western states to repayment contracts if requested by contractors. This conversion would allow contractors to repay their share of capital costs to the federal government earlier than would otherwise occur under current law. Receipts to the federal government would increase in the first few years after enactment, but would decline in subsequent years. Staff of the Joint Committee on Taxation estimates that some of those accelerated payments would be financed with bonds exempt from federal taxation, leading to a revenue loss. c. Negative numbers indicate a decrease in revenues. Estimate prepared by staff of the Joint Committee on Taxation.

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