Sec. 1204. GAO study on benefit-cost analysis reforms
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Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall— conduct a study on the benefit-cost procedures of the Secretary and the Director of the Office of Management and Budget (referred to in this section as the Director ), including— an examination of the benefits and costs that the Secretary and the Director do and do not include in the benefit-cost calculation, including, at a minimum, local and regional economic benefits; and a review of the calculation, if any, of navigation benefits used in a benefit-cost calculation for a non-commercial harbor that is used by a State maritime academy (as defined in section 51102 of title 46, United States Code) for military training purposes; and submit to Congress a report that— describes the results of the study under paragraph (1); and includes recommendations for legislative or regulatory changes to improve the benefit-cost analysis procedures of the Secretary and the Director.