[Congressional Record (Bound Edition), Volume 161 (2015), Part 14]
[Senate]
[Page 18947]
[From the U.S. Government Publishing Office, www.gpo.gov]




                       CBO COST ESTIMATE--S. 720

  Ms. MURKOWSKI. Mr. President, in compliance with paragraph 11(a) of 
rule XXVI of the Standing Rules of the Senate, the Committee on Energy 
and Natural Resources has obtained from the Congressional Budget Office 
an estimate of the costs of S. 720, the Energy Savings and Industrial 
Competitiveness Act of 2015, as reported from the committee. I 
respectfully ask unanimous consent that the summary of the opinion of 
the Congressional Budget Office be printed in the Congressional Record. 
The full estimate is available on CBO's Web site www.cbo.gov.
  There being no objection, the material was ordered to be printed in 
the Record, as follows:

               Congressional Budget Office Cost Estimate


   S. 720--Energy Savings and Industrial Competitiveness Act of 2015

                           (October 19, 2015)

       Summary: S. 720 would amend current law and authorize 
     appropriations for a variety activities and programs related 
     to energy efficiency. The bill would require federal agencies 
     that guarantee mortgages to consider whether homes with 
     energy-efficient improvements would affect borrowers' ability 
     to repay mortgages. The bill also would modify certain 
     energy-related goals and requirements for federal agencies.
       CBO estimates that enacting S. 720 would increase direct 
     spending by $15 million over the 2016-2025 period; therefore, 
     pay-as-you-go procedures apply. Enacting the bill would not 
     affect revenues. In addition, CBO estimates that implementing 
     the legislation would cost $218 million over the next five 
     years, assuming appropriation actions consistent with the 
     legislation.
       CBO estimates that enacting S. 720 would not increase on-
     budget deficits or net direct spending by more than $5 
     billion in any of the four consecutive 10-year periods 
     beginning in 2026. S. 720 would impose an intergovernmental 
     mandate, as defined in the Unfunded Mandates Reform Act 
     (UMRA), by requiring states and tribal governments to certify 
     to the Department of Energy (DOE) whether or not they have 
     updated residential and commercial building codes to meet the 
     latest standards developed by building efficiency 
     organizations. CBO estimates that the cost of that mandate 
     would fall well below the annual threshold established in 
     UMRA for intergovernmental mandates ($77 million in 2015, 
     adjusted annually for inflation.) This bill contains no 
     private-sector mandates as defined in UMRA.

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