[United States Statutes at Large, Volume 130, 114th Congress, 2nd Session]
[From the U.S. Government Publishing Office, www.gpo.gov]


Public Law 114-237
114th Congress

An Act


 
To amend the Packers and Stockyards Act, 1921, to clarify the duties
relating to services furnished in connection with the buying or selling
of livestock in commerce through online, video, or other electronic
methods, and for other purposes. <>

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, <>
SECTION 1. <>  SHORT TITLE.

This Act may be cited as the ``Clarification of Treatment of
Electronic Sales of Livestock Act of 2016''.
SEC. 2. DEFINITION OF MARKET AGENCY.

(a) In General.--Section 301(c) of the Packers and Stockyards Act,
1921 (7 U.S.C. 201(c)) is amended--
(1) by striking ``; and'' at the end and inserting a period;
and
(2) by adding at the end the following: ``Beginning on the
date of the enactment of the Clarification of Treatment of
Electronic Sales of Livestock Act of 2016, such term includes
any person who engages in the business of buying or selling
livestock, on a commission or other fee basis, through the use
of online, video, or other electronic methods when handling or
providing the means to handle receivables or proceeds from such
buying or selling, so long as such person's annual average of
online, video, or electronic sales of livestock, on a commission
or other fee basis, exceeds $250,000.''.

(b) Technical Amendments.--Section 301 of the Packers and Stockyards
Act, 1921 (7 U.S.C. 201) is amended--
(1) in the matter preceding subsection (a), by striking
``When used in this Act--'' and inserting ``In this Act:'';
(2) in subsection (a), by striking the semicolon at the end
and inserting a period; and
(3) in subsection (b)--
(A) by striking ``weighting'' and inserting
``weighing''; and
(B) by striking the semicolon at the end and
inserting a period.
SEC. 3. METHODS TO TRANSFER FUNDS.

Section 409(a) of the Packers and Stockyards Act, 1921 (7 U.S.C.
228b(a)) is amended--
(1) in the first proviso, by striking ``shall wire transfer
funds to the seller's account'' each place it appears and
inserting ``shall transfer funds for the full amount of the
purchase price

[[Page 971]]

to the account of the seller by wire, electronic funds transfer,
or any other expeditious method determined appropriate by the
Secretary''; and
(2) in the second proviso, by striking ``or dealer shall
wire transfer funds'' and inserting ``or dealer shall transfer
funds for the full amount of the purchase price by wire,
electronic funds transfer, or any other expeditious method
determined appropriate by the Secretary''.

Approved October 7, 2016.

LEGISLATIVE HISTORY--H.R. 5883:
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HOUSE REPORTS: No. 114-768 (Comm. on Agriculture).
CONGRESSIONAL RECORD, Vol. 162 (2016):
Sept. 26, considered and passed House.
Sept. 29, considered and passed Senate.