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Report No: 538
Date: 12/07/2000

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

  1. LAW NUMBER: P.L.106-469 (H.R. 2884)

  2. BILL TITLE: Energy Act of 2000

  3. BILL PURPOSE: (1) Reauthorizes through FY 2003, authority to manage the Strategic Petroleum Reserve; (2) Authorizes a Northeast Home Heating Oil Reserve; (3) Extends through FY 2003, antitrust exemptions for U.S. oil companies participating in certain International Energy Agency activities; (4) Removes certain hydroelectric power projects from Federal jurisdiction; and (5) Provides for the establishment of a National Oilheat Research organization.

  4. OMB ESTIMATE: P.L.106-469 establishes the National Oilheat Research Alliance in 2002, as a Federal entity. Annual receipts from fuel oil sold in the retail market are expected to be matched by similar increases in outlays.
    5. (Fiscal years; in millions of dollars)
    2000 2001 2002 2003 2004 2005
    Outlays...................................... 0 0 14 14 14 14
    Receipts.................................... 0 0 14 14 14 14
    Net costs............... 0 0 * * * *

     

  5. CBO ESTIMATE:
    6. (Fiscal years; in millions of dollars)
    2000 2001 2002 2003 2004 2005
    Outlays...................................... 0 0 14 14 14 14
    Receipts.................................... 0 0 14 14 14 14
    Net costs............... 0 0 * * * *

     

  6. EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:

    7.  

    OMB and CBO have the same estimates.

  7. CUMULATIVE EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATION ENACTED TO DATE:
    8. (Fiscal years; in millions of dollars)
    2000 2001 2002 2003 2004 2005
    Outlay effect.............. 34 1,392 2,470 7,109 7,841 8,035
    Receipt effect............ -8 -689 -794 -856 -908 -910
    Net costs.................... 42 2,081 3,264 7,965 8,749 8,945

    *$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.