Consolidated Omnibus Budget Reconciliation Act of 1985

The Omnibus Budget Reconciliation Act of 1985 was enacted on April 7, 1986, making significant changes to various programs. A key provision created a "no net cost" fund for tobacco producers and purchasers to reduce excessive inventories held by associations from 1976 through 1984 crops. The act also included provisions related to public housing operating subsidies, rural housing authorizations, management of insured and guaranteed rural housing loans, and miscellaneous extensions.