S. 374 would establish the Concrete Masonry Products Board (board), upon approval of a referendum by producers of masonry products made from concrete (CMP), such as cinder blocks. The board would develop research and education programs as well as efforts to promote CMP in domestic markets. Funding for those activities would be derived from assessments on CMP manufacturers based on the number of masonry units sold each year. The bill would direct the Secretary of Commerce to organize and hold the referendum; the agency’s costs would be reimbursed by the board from initial collections of assessments.
CBO estimates that enacting S. 374 would increase net revenues by $77 million and increase direct spending by $71 million over the 2018-2027 period, leading to a net decrease in the deficit of $6 million over the 10-year period. Pay-as-you-go procedures apply because enacting the legislation would affect direct spending and revenues. In addition, CBO estimates that implementing S. 374 would cost $2 million over the 2017-2022 period; such spending would be subject to the availability of appropriated funds.
CBO estimates that enacting S. 374 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 2028.
S. 374 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.
S. 374 would impose private-sector mandates on CMP manufacturers. On the basis of information from industry experts, CBO estimates that the annual cost of the mandates would fall well below the annual threshold established in UMRA for private-sector mandates ($156 million in 2017, adjusted annually for inflation).