To amend the Packers and Stockyards Act, 1921, to provide that milk purchased by handlers from milk producers, and the proceeds and products of such milk, shall be held by such handlers in trust for the benefit of such producers until full payment is received by such producers.
Milk Producers' Financial Protection Amendments of 1990 - Amends the Packers and Stockyards Act, 1921 to provide that all milk purchased from a producer by a handler in a cash sale and all inventories and proceeds and related products shall be held by the handler in trust for the producer until the producer receives full payment.
States that the producer shall lose the benefit of such trust if: (1) payment is not received within 30 days of the payment date; or (2) within 15 business days after the handler receives notice that the payment instrument has been dishonored.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Executive Comment Requested from USDA.
Referred to the Subcommittee on Livestock, Dairy, and Poultry.
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