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S. 385, Energy Savings and Industrial Competitiveness Act 1 (June 20, 2017)

handle is hein.congrec/cbo3607 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE June 20, 2017 S. 385 Energy Savings and Industrial Competitiveness Act As reported by the Senate Committee on Energy and Natural Resources on May 10, 2017 SUMMARY S. 385 would amend current law and authorize appropriations for a variety of activities and programs related to energy efficiency. The bill would require federal agencies that guarantee mortgages to consider whether homes with energy-efficient improvements would affect borrowers' ability to repay mortgages. The bill also would modify certain energy-related goals and requirements for federal agencies. CBO estimates that enacting S. 385 would increase direct spending by $17 million over the 2017-2027 period; therefore, pay-as-you-go procedures apply. Enacting the bill would not affect revenues. In addition, CBO estimates that implementing the legislation would cost $198 million over the next five years, assuming appropriation actions consistent with the legislation. CBO estimates that enacting S. 385 would not increase on-budget deficits or net direct spending by more than $5 billion in any of the four consecutive 10-year periods beginning in 2028. S. 385 would impose an intergovernmental mandate, as defined in the Unfunded Mandates Reform Act (UMRA), by requiring states and tribal governments to certify to the Department of Energy (DOE) whether or not they have updated residential and commercial building codes to meet the latest standards developed by building efficiency organizations. CBO estimates that the cost of that mandate would fall well below the annual threshold established in UMRA for intergovernmental mandates ($78 million in 2017, adjusted annually for inflation). S. 385 contains no private-sector mandates as defined in UMRA. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effects of S. 385 are shown in Table 1. The costs of this legislation primarily fall within budget functions 270 (energy), 370 (commerce and housing credit), and 700 (veterans benefits and services).

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