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cost estimate
May 11, 2012
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As ordered reported by the House Committee on Natural Resources on April 25, 2012
S. 363 would authorize the Secretary of Commerce to convey less than 1 acre of land administered by the National Oceanic and Atmospheric Administration (NOAA) to the city of Pascagoula, Mississippi. The bill would require the city to provide consideration to the federal government in the form of land, cash, or services in an amount equal to the fair market value of the federal land that would be conveyed. Based on information provided by NOAA, CBO expects that the city would convey land to the federal government as the primary form of consideration.
CBO estimates that implementing S. 363 would have no significant impact on the federal budget. Enacting the legislation could increase offsetting receipts (a credit against direct spending) if the city of Pascagoula provided cash in exchange for the federal land; therefore, pay-as-you-go procedures apply. However, CBO estimates that any such impact would be negligible. Implementing S. 363 would not affect revenues.
S. 363 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. Enacting this bill would benefit Pascagoula; any costs to the city would be incurred voluntarily.
On May 25, 2011, CBO transmitted a cost estimate for S. 363, a bill to authorize the Secretary of Commerce to convey property of the National Oceanic and Atmospheric Administration to the city of Pascagoula, Mississippi, as ordered reported by the Senate Committee on Commerce, Science, and Transportation. The two versions of the legislation are similar, and the estimated costs are the same.