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1 S. 2875, Cyber Incident Reporting Act of 2021, as Ordered Reported by the Senate Committee on Homeland Security and Governmental Affairs on October 6, 2021 1 (November 30, 2021)

handle is hein.congrec/cbocybrir0001 and id is 1 raw text is: Congressional Budget Office Cost Estimate November 30, 2021 By Fiscal Year, Millions of Dollars 2022 2022-2026 2022-2O Direct Spending (Outlays) 0 * Revenues Increase or Decrease (-) in the Deficit Soendincl ublect to 0 0 3 * 55 bill would Require operators of critical infrastructure to report cyber attacks and ransom payments Establish a program office to receive and analyze reports on cyber incidents Create a pilot program to warn federal agencies and nonfederal entities that are vulnerable to ransomware Impose intergovernmental and private-sector mandates by requiring the owners and operators of critical infrastructure to file reports about cyber incidents and ransom payments and to retain relevant data. The bill also would preempt state, local, and tribal public disclosure laws Estimated budgetary effects would mainly stem from Implementing new cyber incident reporting processes Identifying information systems that have security vulnerabilities Collecting civil and criminal fines from entities that do not comply with disclosure requirements Areas of significant uncertainty include Predicting the annual number of cyber incidents reported to the federal government Anticipating how often the federal government would impose fines and penalties Detailed estimate begins on the next page. 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/42994. The 0 0 0 0

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