S 3140 115th Congress Senate Agriculture and Food

SALE Act of 2018

Introduced: June 26, 2018 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 26, 2018

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Jun 26, 2018

Introduced in Senate

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Plain-English summary Congressional Research Service

Securing All Livestock Equitably Act of 2018 or the SALE Act of 2018

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.

What's happening now June 26, 2018

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Related & companion bills 1

Bill text 1 version