S. 4630 would require the National Cyber Director to create policy guidance for federal agencies to reduce duplicative or contradictory cybersecurity regulations. Under the bill, the director would establish an interagency committee to study federal cyber regulations, identify regulations that are overly burdensome on the private sector, and recommend changes to such regulations. S. 4630 also would require the director to implement a pilot program to assess the new policy guidance at three or more federal agencies and to report to the Congress on the results of those efforts. For purposes of this estimate, CBO assumes the bill will be enacted in 2025.