H.R. 6122, a bill to revise the authority of the Library of Congress to accept gifts and bequests on behalf of the Library, and for other purposes

Cost Estimate
August 14, 2012

As ordered reported by the Committee on House Administration on July 19, 2012

H.R. 6122 would authorize the Librarian of Congress to accept gifts of securities for immediate disbursement, personal property valued at $25,000 or less, and certain services. Under current law, the Librarian can receive and use gifts of money. The bill also would require the Librarian to report annually on accepted gifts that exceed $1,000 in value.

Because the bill would allow the Librarian to accept and use more types of donations, enacting H.R. 6122 would affect direct spending and receipts. However, CBO estimates that the net effects would be insignificant for each year.

H.R. 6122 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.