Dealer Trust Bill Introduced in U.S. House
October 20, 2017
Rep. Roger Marshall (Kan.) introduced H.R. 4058 – the Securing All Livestock Equitably Act – this week in response to support from the American Sheep Industry Association and the Livestock Marketing Association.
The bipartisan bill would amend the Packers and Stockyards Act of 1921 to offer protections to sale barns and livestock producers from the recurring trend of defaults of livestock dealers. The S.A.L.E. Act would place livestock sold to a dealer, and proceeds/receivables from already sold livestock, in a trust until the original seller has been paid, ensuring that producers and livestock auctions have a legal recourse in the event of a dealer default.