Congressional Budget Office Cost Estimate: H.R. 3485: Justice for Victims of Terrorism Act   [open pdf - 14KB]

"H.R. 3485 would enable victims of Iranian terrorism who have won judgments against Iran in U.S. courts to collect monetary damages from that country--primarily by obtaining certain funds currently held by the U.S. government. As shown in the following table, CBO estimates that enacting this bill would increase direct spending by about $405 million in 2001; therefore, pay-as-you-go procedures would apply. Although the bill would pertain to victims of other nations that sponsor terrorism, CBO does not expect that any budgetary effects would result from judgments against other nations. Enactment of H.R. 3485 could result in savings in later years if future disbursements that would otherwise have to be made under current law were reduced because of the payments made in 2001. CBO has no basis for estimating these effects--if any--because they would depend on future decisions of the international Iran-U.S. Claims Tribunal and the responses of the United States and Iran to these decisions. The legislation contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments."

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