what types of entities would issue the bonds and is there a Federal revenue cost?
Ms. DUNN. Thank you for the question, Mr. McNulty. It would be a State public agency would administer the bonds, and the revenue cost would be $6 million in 2003 and over 10 years it would be $487 million. You might wonder about the Payments in Lieu of Taxes. They would be included in the purchase of the property. Mr. MCNULTY. Thank you. That is all I have, Mr. Chairman. Chairman MCCRERY. Thank you all very much. We appreciate your taking your time to share with us your ideas on how we can conserve open spaces and green areas in our country. Chairman MCCRERY. Now, I would like to call forward Ms. Pam Olson, who is the Acting Assistant Secretary for Tax Policy, U.S. Department of the Treasury. Ms. Olson, thank you very much for coming today. We assume you are going to share with us the proposals in the President’s budget with respect to today’s topic, and know that your full written testimony will be entered into the record and we would like for you to summarize that orally in about 5 m
