Congressional Budget Office Cost Estimate: H.R. 4411, Hezbollah International Financing Prevention Act of 2014   [open pdf - 19KB]

This is the Congressional Budget Office (CBO) Cost Estimate as ordered reported by the House Committee on Foreign Affairs on June 26, 2014. From the Document: "H.R. 4411 would impose sanctions on foreign financial institutions that facilitate transactions or money laundering on behalf of Hezbollah--a terrorist organization--or its agents. It would require several reports and briefings on Hezbollah and the Administration's efforts to deter its activities. CBO estimates that implementing the bill would cost $3 million over the 2015-2019 period, assuming appropriation of the necessary amounts. Pay-as-you-go procedures apply to this legislation because it would affect direct spending and revenues; however, CBO estimates that those effects would not be significant. Provisions of H.R. 4411 would increase the administrative costs of several departments, primarily the Department of the Treasury and the Department of State. Based on information from the Administration, CBO estimates that implementing the bill would cost $1 million in 2015 and less than $500,000 each year over the 2016-2019 period."

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