Bill Cost Estimation is a policy introduced for the sound and efficient management of public finances. Finance-related laws that drive the increases in financial expenditures or decreases in income will have a continuous impact on national finance as they are related to budgeting once legislated. Thus, the National Assembly Budget Office analyzes and publishes reports on a yearly basis to review how the finance-related laws passed by the National Assembly each year will impact the nation's finances.
   
    This report reviews the 98 finance-related laws passed in 2012 by the National Assembly by categorizing them into themes, departments, new / revised laws, and income & expenditures and analyzing their impacts on the 2013 budget. In particular, since the 18th National Assembly was concluded with a new start of the 19th National Assembly in 2012, the finance-related laws passed in 2012 were analyzed in two groups; one under the 18th National Assembly (Jan 1 to May 29, 2012) and the other under the 19th National Assembly (May 30 to Dec 31, 2012).
   
    In 2012, the National Assembly passed a total of 231 bills, 98 of which (42.4%) were related to national finances. Among the 98 bills passed in 2012, nine laws were included in the budgeting for 2013, accounting for KRW 10.339 billion.
   
    Of the finance-related laws passed in 2012, 42.8% (42 laws) attached expense information, while 57.1% (56 laws) did not attach such expense information. Moreover, among the 42 laws that provided expense information, 21 laws used ‘template number three- reasons for non-inclusion of expense details’ (where estimation is not feasible for technical reasons), whereby the template was used in 50.0% of laws that were passed.
   
    The National Assembly Budget Office plans to carry out further analysis on the finance-related laws passed by the National Assembly to meet the goals of the bill cost estimation policy of raising financial soundness and ensuring financial sustainability. The committee should make efforts to include expense information for future bill proposals, and try to reduce the use of template three for proposals attached with such information on expenses.