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H.R. 6332, Improving Strategies to Counter Weapons Proliferation Act (CBO Report for Congress)

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Congress 115th
Date Requested July 24, 2018
Requested By House Committee on Financial Services
Date Sent Aug. 2, 2018
Description:
H.R. 6332 would require the Financial Crimes Enforcement Network (FinCEN) in the Department of the Treasury to submit an annual report to the Congress on FinCEN products and other agency activities that address the financing of weapons production and distribution. Based on the cost of similar reports, CBO estimates that implementing the bill would cost less than $500,000 annually; such spending would be subject to the availability of appropriated funds. Enacting H.R. 6332 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply. CBO estimates that enacting H.R. 6332 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2029. H.R. 6332 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.

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