CBO Issues Cost Estimate for HOME Act
H.R. 2255
HOME Act
As ordered reported by the
Under current law, mortgage lenders are required to compensate property appraisers at a customary and reasonable rate for performing appraisal services. H.R. 2255 would deem appraisal services donated to an organization that is eligible to receive tax-deductible charitable contributions to be customary and reasonable for purposes of that requirement. Using information from the
Costs incurred by the
Costs to the
The net effect on the deficit would be insignificant. Because enacting H.R. 2255 would affect direct spending and revenues, pay-as-you-go procedures apply.
CBO estimates that enacting H.R. 2255 would not significantly increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028.
H.R. 2255 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.
The CBO staff contact for this estimate is
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