H.R. 1493 would direct the President to apply import restrictions to certain material from Syria with archaeological or cultural importance and to report annually to the Congress on those efforts. Under current law, some of that property could be imported into the United States and face customs duties. However, because the amount of such imports is expected to be small, CBO estimates that the revenue loss from the import restrictions would be less than $500,000 over the 2016-2026 period. CBO estimates that implementing the reporting requirement would cost less than $500,000 over the 2016-2021 period; such spending would be subject to the availability of appropriated funds.
Because enacting H.R. 1493 would affect revenues, pay-as-you-go procedures apply. Enacting the legislation would not affect direct spending. CBO estimates that enacting H.R. 1493 would not increase net direct spending or on-budget deficits by more than $5 billion in any of the four consecutive 10-year periods beginning in 2027.
H.R. 1493 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.
By applying import restrictions on certain material from Syria, H.R. 1493 would impose a private-sector mandate on importers and other entities that receive such material from shippers. Those entities would have to provide documentation certifying that importation of such items is in compliance with international law. Because the amount of such imports is expected to be small, CBO estimates that the cost of the mandate would fall well below the annual threshold established in UMRA for private-sector mandates ($154 million in 2016, adjusted annually for inflation).
On May 6, 2015, CBO transmitted a cost estimate for H.R. 1493 as ordered reported by the House Committee on Foreign Affairs on April 23, 2015. The two versions of the legislation are similar and CBO’s estimates of the budgetary effects of implementing them are the same.