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SALE Act of 2020
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.
Read the Full Bill
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
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
20Democrat Cosponsors
3Republican Cosponsors
17Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3419
Primary Policy Focus
Agriculture and FoodAlternate Title(s) of Bill S 3419
SALE Act of 2020
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.
Comments
Sponsors and Cosponsors of S 3419
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