SALE Act of 2020

Hozzl · 2022-02-09T02:11:59Z

Explore the details of Senate Bill 3419 SALE Act of 2020 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Agriculture and Food. Stay informed on legislative developments.

2/9/2022, 2:11 AM

Congressional Summary of S 3419

Securing All Livestock Equitably Act of 2020 or the SALE Act of 2020

This bill requires all livestock purchased by a dealer in cash sales and all inventories of, or receivables or proceeds from, such livestock to be held by the dealer in a trust until all unpaid cash sellers of the livestock have been paid.

The bill exempts from the requirement any dealer whose average annual purchases of livestock do not exceed $100,000.

The bill also specifies requirements regarding enforcement, preserving a trust, notifying lien holders, and purchasing or transferring livestock that is subject to a trust.

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Current Status of Bill S 3419

Bill S 3419 is currently in the status of Bill Introduced since March 9, 2020. Bill S 3419 was introduced during Congress 116 and was introduced to the Senate on March 9, 2020. Bill S 3419's most recent activity was Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. as of March 9, 2020

Bipartisan Support of Bill S 3419

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3419

Primary Policy Focus

Agriculture and Food

Alternate Title(s) of Bill S 3419

SALE Act of 2020

Securing All Livestock Equitably Act of 2020

A bill to amend the Packers and Stockyards Act, 1921, to provide for the establishment of a trust for the benefit of all unpaid cash sellers of livestock, and for other purposes.