1. Short title This Act may be cited as the Unfunded Mandates Information and Transparency Act of 2017 . 2. Purpose The purposes of this Act are— (1) to improve the quality of the deliberations of Congress with respect to proposed Federal mandates by— (A) providing Congress and the public with more complete information about the effects of such mandates; and (B) ensuring that Congress acts on such mandates only after focused deliberation on their effects; and (2) to enhance the ability of Congress and the public to identify Federal mandates that may impose undue harm on consumers, workers, employers, small businesses, private property owners, and State, local, and tribal governments. 3. Providing for Congressional Budget Office studies on policies involving changes in conditions of grant aid Section 202(g) of the Congressional Budget Act of 1974 ( 2 U.S.C. 602(g) ) is amended by adding at the end the following: (3) Additional studies At the request of any Chairman or ranking member of the minority of a Committee of the Senate or the House of Representatives, the Director shall conduct an assessment comparing the authorized level of funding in a bill or resolution to the prospective costs of carrying out any changes to a condition of Federal assistance being imposed on State, local, or tribal governments participating in the Federal assistance program concerned or, in the case of a bill or joint resolution that authorizes such sums as are necessary, an assessment of an estimated level of funding compared to such costs. . 4. Clarifying the definition of direct costs to reflect Congressional Budget Office practice Section 421(3) of the Congressional Budget Act of 1974 ( 2 U.S.C. 658(3) ) is amended— (1) in subparagraph (A)(i), by inserting incur or before be required