H.R. 3465 would authorize the nonprofit Fallen Journalists Memorial Foundation to establish a commemorative work in or near Washington, D.C. The bill would prohibit the use of federal funds to establish the memorial.
The project would be subject to the provisions of the Commemorative Works Act. Under that act, any entity that receives a construction permit for a commemorative work must also donate an amount equal to 10 percent of the memorial’s estimated cost of construction to the National Park Foundation, a nonprofit organization whose subsequent donations to the National Park Service are recorded on the budget. That donation and any project funds remaining after construction would be available for maintenance of the memorial without further appropriation.
Based on the experiences of similar projects, CBO expects that any amounts collected by the federal government for maintenance of the monument would not be received for several years and would be offset by expenditure soon thereafter. Thus, CBO estimates that the legislation’s net effect on direct spending would be negligible.