Fiscal Note Act

Fiscal Note Act - Provides that a bill or joint resolution which has been introduced in the Senate or received by the Senate from the House of Representatives shall be printed only when there appears at the bottom of the first page, in bold-face type, a fiscal note prepared by the department or agency which will carry out such bill or joint resolution. Provides that such fiscal note shall state the amounts estimated, in constant dollars, to be the direct and indirect costs likely to be incurred or the direct and indirect savings likely to be achieved: (1) by the United States Government in carrying out such bill or joint resolution in the fiscal year in which it is introduced or received in the Senate and in each of the five fiscal years following such fiscal year (or for the authorized duration of any program, if less than five years), except for measures affecting the revenues; and (2) if sufficient information is already in the possession of such department or agency or is readily available, by State and local governments.