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

Report No: 510
Date: 08/04/00

1. LAW NUMBER: P.L.106-248 (S. 1892)
2. BILL TITLE: Valles Caldera Preservation Act
3. BILL PURPOSE: Authorizes the purchase and management of the Baca Ranch, New Mexico, and the acquisition of private lands adjacent to federally designated areas.
4. OMB ESTIMATE: P.L. 106-248 authorizes the Secretary of the Interior and the Secretary of Agriculture to sell certain Federal lands and use the net proceeds to purchase nonfederal lands. Because this would allow receipts to be spent that otherwise would be unavailable for spending, OMB estimates that spending would increase by small amounts each year.

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

5. CBO ESTIMATE:

	(Fiscal years; in millions of dollars)
	2000	2001	2002	2003	2004	2005
Net costs.................	0	-1	-2	1	0	1

6. EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:

   CBO has slightly higher estimates of receipts from sales, so it estimates slightly higher additional spending.

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	640	1,306	1,372	1,457	1,524
Receipt effect............	-8	-620	-698	-746	-781	-768
Net costs....................	42	1,260	2,004	2,118	2,238	2,292

*$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.