Paperwork Review and Limitation Act

Paperwork Review and Limitation Act - Requires, under the Legislative Reorganization Act of 1970, that each public bill or resolution reported by a Congressional committee must be accompanied by a Paperwork Impact Statement which must assess the amount and character of the information that such bill or resolution will require of private individuals and businesses and the cost or time required of such individual or businesses.

Requires each committee of Congress to review annually the reporting requirements (including the number and character of reporting forms issued and withdrawn) of any agency under such committee's jurisdiction.

States that no Federal agency may collect information from ten or more persons, other than Federal employees, unless the Director of the Office of Management and Budget has approved the proposed collection and the forms to be used. Limits the Director's approval for the collection of information to one year, and provides that the forms used must indicate when such approval expires, and that such forms must indicate that no response is required if the approval date has expired.

Requires each agency to report annually to the Director and Congress concerning all forms such agency has issued or withdrawn during the calendar year.

Requires the Director to study the feasibility of requiring a single standard form for collecting information by all Federal agencies and to report the results of such study not later than one year after the enactment of this Act.