MFAR Transparency Act This bill restricts the implementation of, and requires additional reporting with respect to, the Centers for Medicare & Medicaid Services (CMS) proposed rule titled Medicaid Program; Medicaid Fiscal Accountability Regulation , published on November 18, 2019. The proposed rule establishes new reporting requirements for states with respect to supplemental payments and upper payment limits under Medicaid and generally modifies requirements relating to state Medicaid financing. The bill prohibits the CMS from finalizing or otherwise implementing the proposed rule without congressional authorization. Additionally, the Government Accountability Office must report on the fiscal impact of the proposed rule on health care facilities and state and local governments.