Report No: 538
Date: 12/07/2000

OMB COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS

1. LAW NUMBER: P.L.106-469 (H.R. 2884)
2. BILL TITLE: Energy Act of 2000
3. BILL PURPOSE: (1) Reauthorizes through FY 2003, authority to manage the Strategic Petroleum Reserve; (2) Authorizes a Northeast Home Heating Oil Reserve; (3) Extends through FY 2003, antitrust exemptions for U.S. oil companies participating in certain International Energy Agency activities; (4) Removes certain hydroelectric power projects from Federal jurisdiction; and (5) Provides for the establishment of a National Oilheat Research organization.
4. OMB ESTIMATE: P.L.106-469 establishes the National Oilheat Research Alliance in 2002, as a Federal entity. Annual receipts from fuel oil sold in the retail market are expected to be matched by similar increases in outlays.

	(Fiscal years; in millions of dollars)
	2000	2001	2002	2003	2004	2005
Outlays......................................	0	0	14	14	14	14
Receipts....................................	0	0	14	14	14	14
Net costs...............	0	0	*	*	*	*

 

5. CBO ESTIMATE:

	(Fiscal years; in millions of dollars)
	2000	2001	2002	2003	2004	2005
Outlays......................................	0	0	14	14	14	14
Receipts....................................	0	0	14	14	14	14
Net costs...............	0	0	*	*	*	*

 

6. EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:

 

OMB and CBO have the same estimates.

7. CUMULATIVE EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATION ENACTED TO DATE:

	(Fiscal years; in millions of dollars)
	2000	2001	2002	2003	2004	2005
Outlay effect..............	34	1,392	2,470	7,109	7,841	8,035
Receipt effect............	-8	-689	-794	-856	-908	-910
Net costs....................	42	2,081	3,264	7,965	8,749	8,945

*$500,000 or less.

NOTE: The cumulative effect of direct spending and revenue legislation enacted to date is currently estimated to result in an end-of-session sequester. The Administration looks forward to working with the Congress to ensure that an unintended sequester does not occur.