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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.

USA115th CongressS-3140| Senate 
| Updated: 6/26/2018
James M. Inhofe

James M. Inhofe

Republican Senator

Oklahoma

Cosponsors (10)
Joni Ernst (Republican)Jerry Moran (Republican)Heidi Heitkamp (Democratic)Roger F. Wicker (Republican)John Thune (Republican)Jon Tester (Democratic)Deb Fischer (Republican)Claire McCaskill (Democratic)Steve Daines (Republican)Shelley Moore Capito (Republican)

Agriculture, Nutrition, and Forestry Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Securing All Livestock Equitably Act of 2018 or the SALE Act of 201 8 This bill amends the Packers and Stockyards Act, 1921 to require 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 $250,000. A dealer and cash seller may voluntarily waive the requirement using a written agreement that meets specified requirements. 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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Timeline
Oct 26, 2017

Latest Companion Bill Action

HR 115-4058
Referred to the Subcommittee on Livestock and Foreign Agriculture.
Jun 26, 2018
Introduced in Senate
Jun 26, 2018
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
  • October 26, 2017

    Latest Companion Bill Action

    HR 115-4058
    Referred to the Subcommittee on Livestock and Foreign Agriculture.


  • June 26, 2018
    Introduced in Senate


  • June 26, 2018
    Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Agriculture and Food

Related Bills

  • HR 115-4058: 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.

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.

USA115th CongressS-3140| Senate 
| Updated: 6/26/2018
Securing All Livestock Equitably Act of 2018 or the SALE Act of 201 8 This bill amends the Packers and Stockyards Act, 1921 to require 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 $250,000. A dealer and cash seller may voluntarily waive the requirement using a written agreement that meets specified requirements. The bill also specifies requirements regarding enforcement, preserving a trust, notifying lien holders, and purchasing or transferring livestock that is subject to a trust.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Oct 26, 2017

Latest Companion Bill Action

HR 115-4058
Referred to the Subcommittee on Livestock and Foreign Agriculture.
Jun 26, 2018
Introduced in Senate
Jun 26, 2018
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
  • October 26, 2017

    Latest Companion Bill Action

    HR 115-4058
    Referred to the Subcommittee on Livestock and Foreign Agriculture.


  • June 26, 2018
    Introduced in Senate


  • June 26, 2018
    Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
James M. Inhofe

James M. Inhofe

Republican Senator

Oklahoma

Cosponsors (10)
Joni Ernst (Republican)Jerry Moran (Republican)Heidi Heitkamp (Democratic)Roger F. Wicker (Republican)John Thune (Republican)Jon Tester (Democratic)Deb Fischer (Republican)Claire McCaskill (Democratic)Steve Daines (Republican)Shelley Moore Capito (Republican)

Agriculture, Nutrition, and Forestry Committee

Agriculture and Food

Related Bills

  • HR 115-4058: 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.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted