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H.R. 873, Global War on Terrorism War Memorial Act 1 (July 28, 2017)

handle is hein.congrec/cbo3705 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE July 28, 2017 H.R. 873 Global War on Terrorism War Memorial Act As ordered reported by the House Committee on Natural Resources on July 26, 2017 H.R. 873 would authorize the Global War on Terror Memorial Foundation, a non-profit organization, to establish a memorial in the District of Columbia and its environs to commemorate members of the armed forces who served on active duty in support of the Global War on Terrorism. Because H.R. 873 would prohibit the use of federal funds to establish the memorial, CBO estimates that implementing the legislation would result in no significant costs to the federal government. Enacting H.R. 873 would affect direct spending; therefore, pay-as-you-go procedures apply. The memorial project would be subject to the requirements of the Commemorative Works Act. Under that act, any entity that receives a permit to construct a memorial must donate to the National Park Foundation (a nonprofit organization) an amount equal to 10 percent of the memorial's estimated construction cost. That amount, as well as any project funds remaining after construction of the memorial, would be available in future years for maintenance of the memorial. Based on the experience of similar commemorative projects, CBO expects that any amounts collected by the federal government for maintenance would not be received for several years and would be offset by an expenditure soon thereafter. On net, CBO estimates that such effects would be insignificant. Enacting the bill would not affect revenues. CBO estimates that enacting H.R. 873 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028. H.R. 873 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. The CBO staff contact for this estimate is Janani Shankaran. The estimate was approved by Theresa A. Gullo, Assistant Director for Budget Analysis.

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