H.R. 1003, a bill to improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders

Cost Estimate
April 1, 2013

As ordered reported by the House Committee on Agriculture on March 20, 2013

H.R. 1003 would broaden the items for the Commodity Futures Trading Commission (CFTC) to consider when assessing costs and benefits of a proposed regulation. Further, the bill would require the agency to adopt such a regulation only if it determines that the estimated benefits justify the estimated costs.

Based on information from the CFTC, CBO estimates that implementing H.R. 1003 would cost $28 million over the 2014-2018 period, assuming appropriation of the necessary amounts. Enacting H.R. 1003 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.

H.R. 1003 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.