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

Report No: 511
Date: 08/04/00

  1. LAW NUMBER: P.L.106-249 (S. 986)

  2. BILL TITLE: Griffith Project Prepayment and Conveyance Act

  3. BILL PURPOSE: Directs the Secretary of the Interior to convey title to the Robert B. Griffith Water Project in Nevada to the Southern Nevada Water Authority (SNWA).

  4. OMB ESTIMATE: P.L. 106-249 authorizes the Secretary of the Interior to convey the Robert B. Griffin Water Project to the SNWA, in return for prepayment of the Authority's outstanding obligation under the existing repayment contract. OMB estimates that this would increase net receipts by $103 million in FY 2001 and increase net outlays by the amount of repayments that would otherwise be collected in subsequent years.

    5. (Fiscal years; in millions of dollars)
    2000 2001 2002 2003 2004 2005
    Net costs................. 0 -103 9 9 9 9

  5. CBO ESTIMATE:
    6. (Fiscal years; in millions of dollars)
    2000 2001 2002 2003 2004 2005
    Net costs................. 0 -103 9 9 9 9

  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:
    8. (Fiscal years; in millions of dollars)
    2000 2001 2002 2003 2004 2005
    Outlay effect.............. 34 537 1,315 1,381 1,466 1,533
    Receipt effect............ -8 -620 -698 -746 -781 -768
    Net costs.................... 42 1,157 2,013 2,127 2,247 2,301

    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.