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1 H.R. 281, Ensuring Diverse Leadership Act of 2019, as Ordered by the House Committee on Financial Services on July 11, 2019 1 (August 16, 2019)

handle is hein.congrec/cboensdvl0001 and id is 1 raw text is: j Congressional Budget Office Cost Estimate August 16, 2019 Millions of Dollars 2019 2019=2024 2019-2029 Direct Spending (Outlays) 0 0 0 Revenues Deficit Effect 0 0 0 0 0 0 H.R. 281 would require Federal Reserve banks to interview at least one individual reflective of gender diversity and one individual reflective of racial or ethnic diversity when appointing Federal Reserve bank presidents, and to annually report on the applicant demographic pool for those positions. The bill further modifies a number of Acts related to financial services to change references to officials to be gender-neutral. Based on information from the Federal Reserve, CBO estimates that the bill would have no effect on revenues because the interviewing requirements of the bill are currently being substantially met and meeting the reporting requirements would involve no additional costs for the Federal Reserve system. The bill would not affect direct spending. The CBO staff contact for this estimate is Nathaniel Frentz. The estimate was reviewed by John McClelland, Assistant Director for Tax Analysis. See also CBO's Cost Estimates Explained, wwwcbo.gov/publicationi54437; How CBO Prepares Cost Estimates, www.cbo.gov/publication/53519; and Glossary, www cbo~gov/publication/42904.

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