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Report No: 537
Date: 12/07/2000
OMB COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS
- LAW NUMBER: P.L.106-458 (S. 1088)
- BILL TITLE: Arizona National Forest Improvement Act
- BILL PURPOSE: Authorizes the
Agriculture Department to sell or exchange certain land
and administrative sites in Arizona.
- OMB ESTIMATE: P.L. 106-458 authorizes the Secretary of Agriculture to sell or
exchange certain land in Arizona. The proceeds are authorized to be spent on
constructing or improving facilities and purchasing other land in Arizona. OMB
estimates that the land sales will increase offsetting receipts by about $14 million over the
2001-2003 period, which will be spent over the 2001-2005 period.
The law also authorizes the city of Sedona to pay
the fair market value for certain land in
seven equal annual installments including interest. Allowing the city to pay in
installments constitutes a direct loan for which the subsidy is scored on a net present
value basis. OMB estimates that the subsidy cost will be insignificant. In addition,
selling the land to the city will yield insignificant costs due to foregone permit
fees.
|
(Fiscal years; in millions of
dollars) |
|
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
| Net costs............... |
0 |
-5 |
0 |
1 |
3 |
2 |
- CBO ESTIMATE:
|
(Fiscal years; in millions of dollars) |
|
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
| Net costs............... |
0 |
-5 |
0 |
1 |
3 |
2 |
- EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:
The estimates are the same.
- 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 |
2,456 |
7,095 |
7,827 |
8,021 |
| Receipt effect............ |
-8 |
-689 |
-808 |
-870 |
-922 |
-924 |
| Net costs.................... |
42 |
2,081 |
3,264 |
7,965 |
8,749 |
8,945 |
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.
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