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1 H.R. 473, a Bill to Authorize the Every Word We Utter Monument to Establish a Commemorative Work in the District of Columbia and Its Environs, and for Other Purposes 1 (October 7, 2019)

handle is hein.congrec/cbobllev0001 and id is 1 raw text is: 1 Congressional Budget Office F Cost Estimate October 7, 2019 y Fiscal Year, Millions of Dollars 2020 2020-2024 2020-2029 Direct Spending (Outlays) 0 * * Revenues Increase or Decrease (-) in the Deficit 0 0 0 0 * * H.R. 473 would authorize the group Every Word We Utter to establish a monument in or near the District of Columbia to commemorate the passage of the 19th Amendment to the Constitution. H.R. 473 would prohibit the use of federal funds to establish the monument. The project would be subject to the requirements of the Commemorative Works Act. Under that act, any entity that receives a permit to construct a commemorative work must also donate to the National Park Foundation (a nonprofit organization whose subsequent donations to the National Park Service are recorded on the budget) an amount equal to 10 percent of the memorial's estimated construction costs. That donation and any project funds remaining after construction would be available for maintenance of the memorial without further appropriation. Based on the experiences of similar commemorative projects, CBO expects that any amounts collected by the federal government for maintenance of the monument would not be received for several years and would be offset by an expenditure soon thereafter. Thus, CBO estimates that the legislation's net effect on direct spending would be negligible. The CBO staff contact for this estimate is David Hughes. The estimate was reviewed by H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis. See also CBO's Cost Estimates Explained, www.cbo.gov/publication/54437; How CBO Prepares Cost Estimates, www.cbo.gov/publication/53519; and Glossary, www.cbo.gov/publication/42904.

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