By Fiscal Year, Millions of Dollars

2024

2024-2029

2024-2034

Direct Spending (Outlays)

0

17

63

Revenues

0

0

-2

Increase or Decrease (-) in the Deficit

0

17

65

Spending Subject to Appropriation (Outlays)

0

-171

not estimated

Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?

< $2.5 billion

Statutory pay-as-you-go procedures apply?

Yes

Mandate Effects

Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?

< $5 billion

Contains intergovernmental mandate?

No

Contains private-sector mandate?

Yes, Under Threshold

The bill would

• Prohibit certain federal actions against state-sanctioned marijuana businesses
• Require federal mortgage programs to treat income earned from state-sanctioned marijuana businesses identically to any other legal source of income reported on residential mortgage applications
• Require certain federal agencies to issue guidance and reports
• Increase the cost of an existing private-sector mandate if federal financial regulators increase annual fees to offset the cost of implementing the bill

Estimated budgetary effects would mainly stem from

• Increased receipts from federal housing programs
• Changes in the amount of federally insured deposits
• Increased administrative costs for financial regulators

Areas of significant uncertainty include

• Anticipating the terms of guidance to be issued by federal financial regulators
• Projecting changes in deposits and resulting costs for deposit insurance funds
• Predicting the responses of financial institutions and state-sanctioned marijuana businesses
• Projecting the change in mortgage originations for federal programs that would occur under the bill

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.