OMB
COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS
Report No: 569
Date: 01/25/2002
- LAW NUMBER:
P.L.107-118 (H.R. 2869)
- BILL TITLE:
Small Business Liability Relief & Brownfields Revitalization Act
- BILL PURPOSE:
Amends the Comprehensive Environmental Response, Compensation and Liability
Act of 1980 to: (1) provide liability relief to small businesses; and
(2) promote the cleanup and reuse of abandoned industrial sites known
as "brownfields".
- OMB ESTIMATE:
P.L. 107-118 would limit the liability for clean-up costs of small businesses
and businesses that have disposed of small amounts of hazardous materials
at a Superfund site. OMB estimates that this would reduce offsetting
receipts by negligible amounts.
|
(Fiscal
years; in millions of dollars) |
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
Receipts...................................... |
0 |
0 |
0 |
0 |
0 |
0 |
Outlays........................................ |
* |
* |
* |
* |
* |
* |
- CBO ESTIMATE:
CBO estimates that provisions affecting the liability for clean-up costs
would reduce offsetting receipts by $2 million annually. In addition,
CBO estimates that, as a result of a provision that would authorize
State and local governments to use grants to capitalize revolving funds
for brownfields remediation, additional tax-exempt bonds would be issued,
which would reduce Federal tax receipts.
|
(Fiscal
years; in millions of dollars) |
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
Receipts...................................... |
0 |
0 |
-1 |
-5 |
-10 |
-15 |
Outlays........................................ |
0 |
2 |
2 |
2 |
2 |
2 |
- EXPLANATION
OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES: In contrast to CBO, OMB
treats the potential change in the issuance of tax-exempt bonds as an
indirect effect and does not score it for PAYGO purposes. The difference
in outlays is the result of different assumptions about the number of
and amount of payments that would otherwise be made by businesses for
brownsfield remediation.
- CUMULATIVE
EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATION ENACTED TO DATE:
|
(Fiscal
years; in millions of dollars) |
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
Outlay
effect.............. |
5,503 |
18,465 |
23,825 |
23,533 |
22,822 |
8,218 |
Receipt
effect............ |
-69,768 |
-34,950 |
-84,840 |
-104,135 |
-105,311 |
-123,752 |
Net
costs.................... |
75,271 |
53,415 |
108,665 |
127,668 |
128,133 |
131,970 |
* Less
than $500,000
|
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