S. 2764 would amend the High Seas Driftnet Fishing Moratorium Protection Act to require nations that export shark products to the United States to obtain certification from the Department of Commerce to show that they practice shark conservation and prohibit shark finning. The bill also would require the National Oceanic and Atmospheric Administration (NOAA) to add rays and skates to its Seafood Import Monitoring Program.
CBO estimates that implementing S. 2764 would cost $5 million over the 2019-2023 period, assuming appropriation of the authorized amounts. Enacting the bill could affect direct spending and revenues; therefore, pay-as-you-go procedures apply. However, CBO estimates that any such changes would have a negligible net effect on the deficit.
CBO estimates that enacting S. 2764 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2029.
S. 2764 would impose private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). CBO estimates that the cost would be below the threshold for private-sector mandates established in UMRA ($160 million in 2018, adjusted annually for inflation). The bill does not contain any intergovernmental mandates as defined in UMRA.