OMB COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS
Report No: 552
Date: 01/16/01
- LAW NUMBER: P.L.106-569 (H.R. 5640)
- BILL TITLE: American Homeownership and
Economic Opportunity Act of 2000
- BILL PURPOSE: (1) Expands existing programs to
increase affordable housing
opportunities for low-income, elderly, and disabled people; (2) amends Native American
housing programs to promote affordable housing for Native Americans and Native
Hawaiians; (3) amends Federal construction, safety, and enforcement standards
for
manufactured homes; and (4) authorizes changes to
various banking regulatory provisions.
- OMB ESTIMATE: P.L.106-571 authorizes
the Federal Reserve Board to acquire a new
office building. Although the operations of the Board are not included in the Federal
budget, the net impact of the purchase of the building and the resulting lower rental costs is
estimated to reduce the net earnings transmitted to the Treasury. OMB estimates that the
earnings will be reduced by $37 million over 2001-2005. The Act also allows the owners
of uninsured section 236 housing projects to retain certain income rather than returning it to
the Federal government. This provision is estimated to cost $36 million over 2002-2005.
In addition, the Act changes the spending of the fees charged for inspecting manufactured
homes from being mandatory to discretionary. However, no amounts have been
appropriated for this program to date, and without appropriations, OMB assumes that the
inspections and the fee collections will end. As a result, OMB estimates no net cost for this
provision.
|
(Fiscal years; in millions of
dollars) |
|
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
Net costs.................................... |
0 |
55 |
5 |
5 |
4 |
4 |
- CBO ESTIMATE:
|
(Fiscal years; in millions of dollars) |
|
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
Net costs.................................... |
0 |
55 |
5 |
5 |
4 |
4 |
- EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:
OMB and CBO have the same estimates.
- 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 |
7,874 |
12,190 |
14,545 |
15,740 |
16,853 |
Receipt effect............ |
-8 |
-2,626 |
-3,863 |
-3,920 |
-3,596 |
-3,820 |
Net costs.................... |
42 |
10,500 |
16,053 |
18,465 |
19,336 |
20,673 |
NOTE: Pursuant to P.L.106-554, the pay-as-you-go balances that would result in a
sequester for
FY 2001 will be set to zero in OMB's final sequestration report.
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