H.R.6067 - SALE Act of 2020116th Congress (2019-2020)
|Sponsor:||Rep. Marshall, Roger W. [R-KS-1] (Introduced 03/03/2020)|
|Committees:||House - Agriculture|
|Latest Action:||House - 08/13/2020 Referred to the Subcommittee on Livestock and Foreign Agriculture. (All Actions)|
This bill has the status Introduced
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Summary: H.R.6067 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (03/03/2020)
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.