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1 H.R. 5787, Strengthening Coastal Communities Act of 2018 1 (July 9, 2018)

handle is hein.congrec/cbosghct0001 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE a COST ESTIMATE July 9, 2018 H.R. 5787 Strengthening Coastal Communities Act of 2018 As ordered reported by the House Committee on Natural Resources on June 13, 2018 H.R. 5787 would update the maps for various units of the Coastal Barrier Resources System (CBRS). Using information provided by the U.S. Fish and Wildlife Service, CBO estimates that updating the maps would have no significant effect on spending subject to appropriation. The bill would revise the CBRS maps for 35 units within the system and would add, on net, about 18,000 acres to the system (increasing the size of the CBRS by 0.5 percent). CBO expects that the new maps would exclude lands containing about 500 structures, which would enable owners of those structures to purchase flood insurance from the federal government. CBO estimates that enacting H.R. 5787 could increase premium collections of the National Flood Insurance Fund by less than $1 million annually. On an expected-value basis those collections, which are recorded as offsets to direct spending, would be roughly offset by new mandatory spending for underwriting, administrative expenses, and new flood insurance claims over the 2019-2028 period. Because enacting the bill could affect direct spending, pay-as-you-go procedures apply. However, CBO estimates that any net change in direct spending would be negligible over the 2019-2028 period. Enacting the bill would not affect revenues. CBO estimates that enacting H.R. 5787 would not significantly increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2029. H.R. 5787 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act. The CBO staff contact for this estimate is Jeff LaFave. The estimate was reviewed by H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis.

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