Congressional Office of Regulatory Analysis Act

Congressional Office of Regulatory Analysis Act - Establishes a Congressional Office of Regulatory Analysis. Authorizes appropriations.

Transfers to the Director of such Office (the Director) the functions of the Comptroller General with respect to congressional review of agency rulemaking.

Requires the Office to conduct its own specified regulatory impact analysis of major rules.

Extends the deadline by which the Director must report to appropriate congressional committees on each major rule from 15 to 45 calendar days after its submission to the Congress or publication in the Federal Register.

Requires the Office to conduct a regulatory impact analysis of any nonmajor rule when requested to do so by a congressional committee or Member of Congress.

Amends the Unfunded Mandates Reform Act of 1995 to: (1) transfer functions of the Director of the Congressional Budget Office (CBO) to the Director with respect to the comparison between agency and CBO mandate cost estimates; and (2) require the Director of the Office of Management and Budget (OMB), at the request of the CBO Director or the Director, to cooperate in providing mandate cost estimates and related data.

Directs the OMB Director to collect agency statements prepared under such Act for forwarding to the Director (currently the CBO Director) after promulgation of the general notice of proposed rulemaking or of the final rule for which the statement was prepared.