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CBO Cost Estimate - S. 271 1 (March 5, 2012)

handle is hein.congrec/cbo10666 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE March 5, 2012 S. 271 Wallowa Forest Service Compound Conveyance Act As ordered reported by the House Committee on Natural Resources on February 29, 2012 S. 271 would direct the Forest Service to convey, without consideration, about 1 acre of land and improvements in Oregon to the city of Wallowa. Based on information provided by the Forest Service, CBO estimates that implementing the legislation would have no significant net effect on the federal budget. Enacting S. 271 would affect direct spending; therefore, pay-as-you-go procedures apply. Because the affected land (and related structures) would probably have been sold under existing authority, enacting the legislation would reduce offsetting receipts. However, because the Forest Service can spend those receipts, the loss in receipts would be offset by lower direct spending of a similar amount. (CBO estimates that the value of the land is less than $500,000.) Enacting S. 271 would not affect revenues. S. 271 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would impose no costs on state, local, or tribal governments. On July 28, 2011, CBO transmitted a cost estimate for S. 271, the Wallowa Forest Service Compound Conveyance Act, as ordered reported by the Senate Committee on Energy and Natural Resources on July 14, 2011. The two versions of the legislation are similar, and the CBO cost estimates are the same. The CBO staff contact for this estimate is Jeff LaFave. The estimate was approved by Theresa Gullo, Deputy Assistant Director for Budget Analysis.