July 22, 2014
As ordered reported by the House Committee on Natural Resources on July 16, 2014
H.R. 3572 would update a map of the Coastal Barrier Resources System (CBRS) near Wilmington, North Carolina. 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. 3572 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, add 764 acres of land to the CBRS. The modified maps would exclude certain private acreage, which would enable owners of about 30 structures to purchase federal flood insurance. CBO estimates that, relative to current law, enacting H.R. 3572 could increase premium collections of the National Flood Insurance Fund by less than $100,000 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. 3572 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.