Congressional Budget Office Cost Estimate: H.R. 2552: Identity Theft Improvement Act of 2011   [open pdf - 15KB]

"H.R. 2552 would eliminate the state-of-mind requirement in certain identity theft cases. Under current law, prosecuting attorneys in identity theft cases must prove that the defendant knew that the means of identification belonged to another individual. Based on information from the Department of Justice, CBO [Congressional Budget Office] estimates that H.R. 2552 would not have a significant impact on the federal budget because the bill would probably affect only a small number of cases. Enacting H.R. 2552 could affect direct spending and revenues; therefore, pay-as-you-go procedures apply. However, CBO estimates that the net effects would be insignificant for each year. Those convicted under H.R. 2552 would be subject to criminal fines; therefore, the federal government might collect additional fines if the bill is enacted. Criminal fines are recorded as revenues, deposited in the Crime Victims Fund, and later spent. CBO expects that any additional revenues and direct spending would not be significant. Persons prosecuted and convicted under the bill also could be subject to the seizure of assets by the federal government. Proceeds from the sale of such assets are recorded as revenues, deposited into the Assets Forfeiture Fund, and spent mostly in the same year. Thus, enacting H.R. 2552 could increase both revenues deposited into those funds and direct spending from them. However, CBO expects that any increase in revenues or spending would be negligible."

Public Domain
Retrieved From:
Congressional Budget Office: http://cbo.gov/
Media Type:
Help with citations