Congressional Budget Office Cost Estimate: H.R. 5005: Homeland Security Act of 2002 [open pdf - 47KB]
"H.R. 5005 would establish the Department of Homeland Security (DHS) to prevent terrorist attacks within the United States, reduce the United States' vulnerability to terrorism, minimize the damages from attacks that occur, and help to recover from any attacks. The new department would consist of 30 existing federal agencies or portions of agencies. Each of these agencies would continue to be responsible for carrying out its other, non homeland-security functions. Enacting H.R. 5005 would increase direct spending from federal retirement funds by about $1 million in 2003 and by $5 million over the 2003-2012 period. Therefore, pay-as-you-go procedures would apply. The bill also could affect governmental receipts from import duties and from employee contributions to federal retirement funds, but CBO estimates that the amounts would be less than $500,000 annually. H.R. 5005 contains intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA), but CBO estimates that the costs to comply with the mandates would not exceed the threshold established in that act ($58 million in 2002, adjusted annually for inflation). The bill contains no new private-sector mandates as defined in UMRA."
Congressional Budget Office: http://cbo.gov