A bill to require CBO analysis of each bill or joint resolution reported in the Senate or House of Representatives to determine the impact of any Federal mandates in the bill or joint resolution.

[AI summary unavailable — showing source text] Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office (CBO) to: (1) analyze each bill or joint resolution reported in the Senate or the House of Representatives to determine the cost to State and local governments of complying with any Federal mandates in the reported measure and the extent to which Federal funds cover such costs; and (2) annually determine the cumulative costs of complying with Federal mandates in all bills or joint resolutions enacted in the preceding year and the extent to which Federal funds cover such costs. Amends rule XXVI of the Standing Rules of the Senate to make it out of order in the Senate to consider a report accompanying a public bill or joint resolution reported by any committee (except the Committees on Appropriations and the Budget) if it does not contain a CBO evaluation of the cost to State and local governments of complying with any Federal mandates in the measure.…