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1 H.R. 737, Shark Fin Sales Elimination Act of 2019 1 (September 27, 2019)

handle is hein.congrec/cboshfn0001 and id is 1 raw text is: Congressional Budget Office Cost Estimate September 27, 2019 By Fiscal Year, Millions of Dollars 2019 2019-2024 2019-2029 Direct Spending (Outlays) Revenues Increase or Decrease (-) in the Deficit 0 0 0 0 0 * * H.R. 737 would prohibit the sale, possession, and purchase of shark fins and products containing shark fins. Violators of this prohibition would be subject to a civil penalty pursuant to the Magnuson-Stevens Fishery Conservation and Management Act. The bill also would allow for the lawful possession of shark fins obtained via a state, territorial, or federal license or permit if the shark fin is used for noncommercial purposes, or used for display or research purposes by a museum, college, university, or any permitted researcher. The prohibition in the bill would not apply to Mustelus canis (smooth dogfish) or Squalus acanthias (spiny dogfish). Because H.R. 737 would prohibit the sale and purchase of shark fins, CBO estimates that revenues from customs duties collected on imported shark fin products would decline. CBO also estimates that penalty collections resulting from violations of the bill's prohibitions would increase revenues. However, based on information from the National Oceanic and Atmospheric Administration (NOAA) and from states that ban the possession of shark fins, CBO estimates that the net effect of those revenue changes would not be significant in any year or over the 2020-2029 period. H.R. 737 would impose private-sector mandates, as defined in the Unfunded Mandates Reform Act (UMRA), by prohibiting the sale of shark fins or products containing shark fins or the possession of shark fins for noncommercial purposes unless those fins were taken 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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