Summary: S.3419 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.3419. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/09/2020)

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.