State and Local Government Funding Impact Act

State and Local Government Funding Impact Act - Declares it to be the purpose of this Act to improve congressional oversight of Federal programs and activities and to increase the understanding by State and local governments of the effects of such programs and activities by requiring greater specificity in stating the administrative and fiscal impact of such programs and activities on State and local governments.

Prohibits the consideration of any bill or resolution in either the House or the Senate which directly or indirectly authorizes the enactment of new budget authority for a Federal assistance program or provides new spending authority for such program, unless the report accompanying such bill or resolution contains: (1) a statement as to whether or not the program would be administered in whole or in part by State or local governments or by nongovernmental sources; (2) a statement of the program's requirements for additional matching expenditures by State or local governments or by nongovernmental sources; or (3) a statement which identifies potentially or actually conflicting activities in other governmental and nongovernmental programs on the State or local level, and explains the relationship of such other programs and activities to the program.