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1 S. 3997, Safeguarding American Innovation Act, as Ordered Reported by the Senate Committee on Homeland Security and Governmental Affairs on July 22, 2020 1 (October 19, 2020)

handle is hein.congrec/cbosaia0001 and id is 1 raw text is: Congressional Budget Office Cost Estimate October 19, 2020 By Fiscal Year, Millions of Dollars 2021 2021-2025 2021-2030 ~ r~* * * D'tS d trec pen ing ( u ays) Revenues Increase or Decrease (-) in the Deficit * * * The bill would * Require the Department of State to modernize its visa application system and to share visa application information with law enforcement agencies * Expand the Department of State's authority to deny visas to foreign nationals who are deemed a threat to national security * Require the Office of Management and Budget to establish the Federal Research Security Council to standardize the process for making federal research and development grants Impose penalties on grant applicants that intentionally fail to disclose sources of foreign compensation Require certain federal grant recipients to disclose financial relationships with foreign entities Estimated budgetary effects would primarily stem from Implementing new federal grant-making processes Operating the Federal Research Security Council Areas of significant uncertainty include * Estimating the amount that the government would collect in fines and other penalties under the bill 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.

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