959 

 73 



Section 320, Program Administration. — The authorization level is 

 that given in the legislation. Section 308 administrative expenses may 

 l)e charged to the Coastal Energy Facility Impact Fmid. This yields 

 the following estimates. 



Authorization levels : 



Fiscal year : Millions 



1977 $3. 9 



1978 5. 



1979 5. 



1980 5. 



1981 



Costs : 



Fiscal year : 



1977 $3. 9 



1978 5. 



1979 5. 



1980 5. 



1981 



Section 319. Bond Guarantees. — This provides the authority to 

 guarantee the holders of bonds or other evidence of indebtedness 

 issued by a state or local government for projects resulting from OCS 

 t'uergy activity against loss of principal or interest. The requirements 

 to qualify for these guarantees and tlie provision that OCS payments 

 be used first to pay back any default, indicate that negligible net 

 outlays can be anticipated for defaults. Administrative costs are to be 

 oiTset by guarantee fee receipts. The $200 million limit on outstanding 

 guarantees may require a one-time approval of $200 million budget 

 authority. This may be an on or off -budget item. 



6. Estimate Comparison : None. 



7. Previous CBO Estimate : Xone. 



8. Estimate Prepared By: William F. Hederman, Jr. (225-5275). 



9. Estimate Approved By : 



C. G. NUCKOLS. 



(For James L. Blum, Assistant Director for Budget Analysis.) 

 Departmextal Reports 



Eight departmental reports were received on H.R. 3981, as intro- 

 duced, and follow herewith : 



General Counsel of the Department of Commerce, 



Washington, B.C., April 28, 1975. 

 Hon. Leon OR K. Sullivan, 



Chairman, Committee on Merchant Marine and Fisheries., 

 House of Representatives^ 

 Washington., D.C. 



Dear Madam Chairman : This is in response to your request for the 

 comments of this Department regarding H.R. 3981, a bill "To amend 

 the Coastal Zone Management Act of 1972 to authorize and assist the 

 coastal Staites to study, plan foi-, manage and control the impact of 

 energy resource development and production which ati'ects the coastal 

 zone, and for other purposes." 



This proposed legislation would amend the Coastal Zone Manage- 

 ment Act of 1972 : (a) by creating a coastal States impact fund of $200 

 million annually to assist the States to study, plan for, manage and 

 control the impact of energy facility siting as well as energy resource 



