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CBO: Small Biz Cybersecurity Bill Would Cost $6M Through 2022

Congressional Budget Office report says a proposed House bill that would provide small businesses access to cybersecurity resources from the National Institutes of Standards and Technology would cost $6 million over five years.

The NIST Small Business Cybersecurity Act of 2017 would require the agency to help companies address cyber threats through the voluntary use of tools, methodologies and guidelines, CBO said Friday.

CBO estimated that NIST would spend approximately $2 million in efforts to develop cybersecurity resources in collaboration with other federal agencies and another $4 million to update the resources for small businesses.

The proposed bill would not affect budgets at the state, local and tribal levels since the legislation does not contain any mandates found in the Unfunded Mandates Reform Act, according to CBO.

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