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1 H.R. 4617, the SHIELD Act 1 (October 21, 2019)

handle is hein.congrec/cboshdac0001 and id is 1 raw text is: 1 Congressional Budget Office Cost Estimate October 21, 2019 By Fiscal Year, Millions of Dollars 2020 2020-2024 2020-2029 Direct Spending (Outlays) Revenues Increase or Decrease (-) in the Deficit * * * * * * * * * H.R. 4617 would amend the Federal Election Campaign Act of 1971. Most provisions in the bill are related to prohibiting the participation of foreign nationals in election-related activities, and making additional campaign expenditures and advertising purchases subject to public disclosure. CBO estimates that implementing H.R. 4617 would cost $2 million over the 2020-2024 period, subject to the availability of appropriated funds. Those amounts would cover additional administrative costs for the Federal Election Commission (FEC) to ensure compliance with the bill. In 2019, the FEC received an appropriation of $71 million. Violators of the bill's reporting requirements could be subject to civil and criminal penalties, so enacting H.R. 4617 could increase collections of fines. Civil fines are recorded in the budget as revenues. Criminal fines are recorded as revenues, deposited in the Crime Victims Fund, and subsequently spent without further appropriation. CBO estimates that any additional collections would not be significant in any year and over the 2020-2029 period because of the relatively small number of additional cases likely to be affected. H.R. 4617 would impose private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) on candidates for federal office, campaign committees, political entities, and advertising platforms, among other entities. CBO expects that the aggregate cost 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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