As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 30, 2014
S. 2640 would require an organization that raises funds for a Presidential library to disclose the sources and amounts of such funds. Such organizations would have to identify any contributors of $200 or more in a calendar quarter while the President is in office and during the period before the federal government takes possession of the library or the President leaves office, whichever is later. Fundraising organizations would be required to provide this information to the National Archives and Records Administration (NARA). The bill would direct NARA to make the information available to the public in a free, online-searchable database. Finally, the legislation would establish criminal penalties, including fines, for violations of its provisions.
CBO estimates that implementing S. 2640 would cost $4 million over the 2015-2019 period, assuming appropriation of the necessary amounts. Enacting the legislation could affect direct spending and revenues; therefore, pay-as-you-go provisions apply. However, we estimate that any such effects would not be significant.
Based on information from NARA, CBO estimates that NARA would spend about $1 million to establish the online database and around $600,000 annually thereafter to update and maintain it. We also estimate that any increases in federal spending for law enforcement, court proceedings, or prison operations related to criminal violations under S. 2640, which would be subject to appropriation, would be insignificant.
Because those prosecuted and convicted under S. 2640 could be subject to criminal fines, the federal government might collect additional fines if the legislation is enacted. Collections of such fines are recorded in the budget as revenues, then deposited in the Crime Victims Fund, and later spent. CBO expects that any additional receipts and direct spending would be negligible because of the small number of cases involved.
S. 2640 contains no intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would not affect the budgets of state, local, or tribal governments.