ASSISTANCE TO COMMITTEES AND STUDIES.

SEC. 102. ASSISTANCE TO COMMITTEES AND STUDIES. The Congressional Budget and Impoundment Control Act of 1974 is amended— (1) in section 202— (A) in subsection (c)— (i) by redesignating paragraph (2) as paragraph (3); and (ii) by inserting after paragraph (1) the following new paragraph: “(2) At the request of any committee of the Senate or the House of Representatives, the Office shall, to the extent practicable, consult with and assist such committee in analyzing the budgetary or financial impact of any proposed legislation that may have— 109 STAT. 61 “(A) a significant budgetary impact on State, local, or tribal governments; “(B) a significant financial impact on the private sector; or “(C) a significant employment impact on the private sector.”; and (B) by amending subsection (h) to read as follows: “(h) Studies.— “(1) Continuing studies.—The Director of the Congressional Budget Office shall conduct continuing studies to enhance comparisons of budget outlays, credit authority, and tax expenditures. “(2) Federal mandate studies.— “(A) At the request of any Chairman or ranking member of the minority of a Committee of the Senate or the House of Representatives, the Director shall, to the extent practicable, conduct a study of a legislative proposal containing a Federal mandate. “(B) In conducting a study on intergovernmental mandates under subparagraph (A), the Director shall— “(i) solicit and consider information or comments from elected officials (including their designated representatives) of State, local, or tribal governments as may provide helpful information or comments; “(ii) consider establishing advisory panels of elected officials or their designated representatives, of State, local, or tribal governments if the Director determines that such advisory panels would be helpful in performing responsibilities of the Director under this section; and “(iii) if, and to the extent that the Director determines that accurate estimates are reasonably feasible, include estimates of— “(I) the future direct cost of the Federal mandate to the extent that such costs significantly differ from or extend beyond the 5-year period after the mandate is first effective; and “(II) any disproportionate budgetary effects of Federal mandates upon particular industries or sectors of the economy, States, regions, and urban or rural or other types of communities, as appropriate. “(C) In conducting a study on private sector mandates under subparagraph (A), the Director shall provide estimates, if and to the extent that the Director determines that such estimates are reasonably feasible, of— “(i) future costs of Federal private sector mandates to the extent that such mandates differ significantly from or extend beyond the 5-year time period referred to in subparagraph (B)(iii)(I); “(ii) any disproportionate financial effects of Federal private sector mandates and of any Federal financial assistance in the bill or joint resolution upon any particular industries or sectors of the economy, States, regions, and urban or rural or other types of communities; and 109 STAT. 62 “(iii) the effect of Federal private sector mandates in the bill or joint resolution on the national economy, including the effect on productivity, economic growth, full employment, creation of productive jobs, and international competitiveness of United States goods and services.”; and (2) in section 301(d) by adding at the end thereof the following new sentence: “Any Committee of the House of Representatives or the Senate that anticipates that the committee will consider any proposed legislation establishing, amending, or reauthorizing any Federal program likely to have a significant budgetary impact on any State, local, or tribal government, or likely to have a significant financial impact on the private sector, including any legislative proposal submitted by the executive branch likely to have such a budgetary or financial impact, shall include its views and estimates on that proposal to the Committee on the Budget of the applicable House.”.