Report No: 523
Date: 11/16/2000

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

1. LAW NUMBER: P.L.106-362 (H.R. 1695)
2. BILL TITLE: Ivanpah Valley Airport Public Lands Transfer Act
3. BILL PURPOSE: Conveys approximately 6,400 acres of federal lands in Ivanpah Valley, Nevada to Clark County, Nevada for the purpose of developing an airport facility.
4. OMB ESTIMATE: P.L. 106-362 provides for the conveyance of land at fair market value and authorizes the Department of Interior to spend the sale proceeds. The sale is expected to occur in 2002, but the proceeds are not estimated to be spent until 2005.

 

	(Fiscal years; in millions of dollars)
	2000	2001	2002	2003	2004	2005
Net costs...............	0	0	-6	0	0	2

 

5. CBO ESTIMATE:

	(Fiscal years; in millions of dollars)
	2000	2001	2002	2003	2004	2005
Net costs...............	0	0	-6	0	0	2

 

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	366	1,156	1,292	1,815	1,759
Receipt effect............	-8	-620	-699	-747	-786	-775
Net costs....................	42	986	1,855	2,039	2,601	2,534

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.