H.R. 5530 would amend the reporting requirements for the Historically Black College and University (HBCU) Advisory Board, which advises the Department of Education about the HBCU Capital Financing Program. It also would allow the department to provide financial counseling to HBCUs to better prepare them to qualify for that program.
Based on current funding levels for administering this program ($334,000 for 2016), CBO estimates that implementing H.R. 5530 would have a negligible additional effect on discretionary spending. Enacting the bill would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.
CBO estimates that enacting H.R. 5530 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027.
H.R. 5530 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.