Internet Of Things Security Bill Would Cost $35M, CBO Says

Law360 (September 17, 2019, 9:17 PM EDT) -- Proposed legislation that would establish mandatory security standards for internet-connected devices purchased by the federal government would cost about $35 million to roll out over five years, according to the Congressional Budget Office.

In an analysis published Friday, the agency estimated that the U.S. Department of Commerce's National Institute of Standards and Technology would need around $11 million to develop standards in the rapidly growing area of connected products if the Internet of Things Cybersecurity Improvement Act becomes law. Those funds would include $3 million set aside to hire 11 employees to develop the standards and provide technical assistance to federal agencies, the...

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