Description:
H.R. 7219 would require the Office of Management and Budget (OMB) and other federal agencies to update guidelines issued under the Information Quality Act concerning the use of reliable information for developing rules and guidance and for disseminating information to the public. The bill also would require agencies to publish relevant models, methods, and sources of information before promulgating rules or issuing guidance. CBO expects that implementing the requirements under the bill would increase administrative costs for OMB and other federal agencies. Based on the costs of similar activities, CBO estimates that updating the guidelines would occur over the 2024-2026 period and would cost $10 million (or less than $500,000 per federal agency). Additionally, CBO estimates that the cost of publishing supporting material for rules or guidance would be $2 million annually (or about $40,000 annually per agency). In total, CBO estimates that implementing the bill would cost $20 million over the 2024-2029 period. Any spending would be subject to the availability of appropriated funds. The costs of the legislation, detailed in Table 1, fall within multiple budget functions.
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