July 18, 2014
As ordered reported by the House Committee on Natural Resources on July 16, 2014
H.R. 277 would update a map of the Coastal Barrier Resources System (CBRS) near Newport, Rhode Island. Based on information from the U.S. Fish and Wildlife Service, CBO estimates that implementing the legislation would have no significant effect on the federal budget. Because H.R. 277 could affect direct spending, pay-as-you-go procedures apply. However, we estimate that any net change in direct spending would be negligible over the 2015-2024 period. Enacting the bill would not affect revenues.
The bill would revise CBRS maps for several units within the system and, on net, would add 45 acres of land to the CBRS. The modified maps would exclude certain private acreage, which would enable owners of several structures to purchase federal flood insurance. CBO estimates that, relative to current law, enacting H.R. 277 could increase premium collections of the National Flood Insurance Fund by less than $50,000 annually. Such collections would be offset by new mandatory spending for underwriting and administrative expenses and new flood insurance claims over the 2015-2024 period.
H.R. 277 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.