What does UMRA stand for?
UMRA stands for the Unfunded Mandates Reform Act of 1995. In an effort to provide Congress with fiscal information before legislation is voted on, this Act requires the Congressional Budget Office (CBO) to estimate the costs of federal mandates contained in proposed legislation for each bill containing an annual aggregate impact of $50 million or more on the public sector (i.e., state and local governments) or $100 million on the private sector, in any of the first 5 fiscal years the mandate would be effective. These dollar thresholds in the UMRA are in 1996 dollars and are adjusted annually for inflation.
