CBA (Contents)

Congressional Budget Act of 1974

Section 500


This title may be cited as the “Federal Credit Reform Act of 1990”.




Title V (FCRA)


Section 501 (FCRA)

Counsel Notes
Short Title

The “Federal Credit Reform Act of 1990” (FCRA) was enacted in 101st Congress by section 13201 of the “Omnibus Reconciliation Act of 1990” (OBRA 1990). This section is included in Title XIII of that Act. The short title of title XIII is the “Budget Enforcement Act of 1990” (BEA 1990), which amended the “Congressional Budget Act of 1974” (CBA) by replacing title V of that Act. In brief, therefore, in the string of short titles, OBRA 1990 included  BEA 1990 in it, which amended CBA by adding FCRA to it. 

Section 13201 of the BEA 1990 replaced the existing title V to the Congressional Budget Act of 1974. FCRA made several changes to the method by which Congress measures the cost of credit programs. The most important change was to move from a cash accounting basis for the evaluation of the budgetary effects of credit programs to an accrual accounting method to more accurately reflect the cost of such programs to the government. Through concurrent resolutions on the budget, Congress has used  “fair value” accounting on a limited basis. H. Con. Res. 25 (113th Congress) and S. Con. Res. 11 (114th Congress), for example, used this accounting. 


This section is not classified to the U.S. Code as a separate section. It is referred to in  2 U.S.C. 661. It is also set forth as a note under “Short Titles” in 2 U.S.C. 621.

Legislative History Notes
Public Laws

Pub. L. 101–508, title XIII, §13201(a), Nov. 5, 1990, 104 Stat. 1388–610 (Budget Enforcement Act of 1990) added §500 to Pub. L. 93–344, title V (Congressional Budget Act of 1974).


This section was first added by the Budget Enforcement Act of 1990, therefore no prior section 500 was enacted. The Congressional Budget and Impoundment Control Act of 1974 included a title V in its original enactment. This title V contained sections 501 through 506, but it did not include a section 500.




Title V (CBA)


Section 501 (FCRA)



[BCR § 150]