Unfunded Mandates Information and Transparency Act of 2019

This bill requires federal agencies to consider the effects of federal regulations on state and local governments. The bill requires the Congressional Budget Office (CBO), at the request of the chairman or ranking member of a congressional committee, to conduct an assessment comparing the authorized level of funding in legislation to the costs of carrying out any changes to a condition of federal assistance being imposed on state, local, or tribal governments participating in the federal assistance program; requires the CBO, in accounting for the costs of federal mandates, to consider forgone business profits, costs passed onto consumers and other entities, and behavioral changes; applies reporting requirements under the Unfunded Mandates Reform Act of 1995 (UMRA) to independent regulatory agencies, except the Board of Governors of the Federal Reserve System, the Federal Open Market Committee, or the Consumer Financial Protection Bureau; and makes the raising of points of order in the consideration of congressional legislation applicable to legislation that would increase the direct cost of private sector mandates beyond limits established by UMRA. The bill requires an agency, at the request of the chairman or ranking member of a congressional committee, to conduct a retrospective analysis of an existing regulation.