S 3419
116th Congress
Senate
Agriculture and Food
SALE Act of 2020
Introduced: March 9, 2020
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 9, 2020
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Mar 9, 2020
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Committees of jurisdiction
1