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cost estimate
June 4, 2013
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As ordered reported by the Senate Committee on Energy and Natural Resources on May 16, 2013
S. 368 would reauthorize the Federal Land Transaction Facilitation Act (FLTFA) to allow certain federal agencies to spend, without further appropriation, proceeds from the sale of land administered by the Bureau of Land Management (BLM) to purchase inholdings (privately held land surrounded by federal land). Based on information provided by BLM, CBO estimates that enacting the legislation would increase both the proceeds from the sale of federal property and the spending of sale proceeds. On balance, CBO estimates that enacting the legislation would yield a small net reduction in direct spending of $5 million over the 2014-2023 period—primarily because spending would lag behind collections over the next 10 years. Because S. 368 would affect direct spending, pay-as-you-go procedures apply. Enacting the legislation would not affect revenues.
S. 368 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments.