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S. 1395, a Bill to Revise the Boundaries of Certain John H. Chafee Coastal Barrier Resources System Units in Delaware 1 (August 16, 2017)

handle is hein.congrec/cbo3681 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE August 16, 2017 S. 1395 A bill to revise the boundaries of certain John H. Chafee Coastal Barrier Resources System units in Delaware As ordered reported by the Senate Committee on Environment and Public Works on July 12, 2017 S. 1395 would update the map for a portion of the Coastal Barrier Resources System (CBRS) located in Delaware. Based on information provided by the U.S. Fish and Wildlife Service, CBO estimates that implementing the legislation would have no significant effect on the federal budget. The bill would revise the CBRS map for several units within the system and would add, on net, about 800 acres to the system (increasing the size of the CBRS by less than 0.1 percent). Based on information provided by the agency, CBO expects that the new map would exclude lands containing 98 structures, which would enable owners of those structures to purchase flood insurance from the federal government. CBO estimates that enacting S. 1395 could increase premium collections of the National Flood Insurance Fund by less than $500,000 annually. On an expected-value basis those collections, which are recorded as offsets to direct spending, would be roughly offset by new mandatory spending for underwriting, administrative expenses, and new flood insurance claims over the 2017-2027 period. Because enacting the bill could affect direct spending, pay-as-you-go procedures apply. However, CBO estimates that any net change in direct spending would be negligible over the 2017-2027 period. Enacting the bill would not affect revenues. CBO estimates that enacting S. 1395 would not significantly increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028. S. 1395 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. The CBO staff contact for this estimate is Jeff LaFave. The estimate was approved by H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis.

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