Omnibus Budget Reconcihation Act of 1986

'The Omnibus Budget Reconciliation Act of 1986 is a comprehensive legislation aimed at balancing the federal budget. Key takeaways include changes to load line requirements for vessels, updates to the International Convention on Load Lines, and repeal of certain laws related to tonnage measurement. The act also establishes a timetable for completion of Coast Guard offshore safety studies and repeals certain laws related to civil service retirement and disability fund regulations. Additionally, it provides a mechanism for the government to recover losses due to false, fictitious, or fraudulent claims and statements in government programs. The law requires that each authority head promulgate rules and regulations to implement this chapter within 180 days after its enactment.'