To assure payment to dairy and livestock producers for milk and livestock delivered to milk processors, livestock dealers, or market agencies.
TABLE OF CONTENTS:
Title I: Dairy Industry Security Reserve Fund
Title II: Statutory Trust for Livestock Sellers
Dairy and Livestock Producer Protection Act of 1996 - Title I: Dairy Industry Security Reserve Fund - Establishes: (1) in the Department of Agriculture the Dairy Industry Security Reserve Fund; and (2) a Board of Trustees to administer such Fund.
Finances the Fund through milk handler assessments (with exceptions for noncommercial handlers and handler-producers).
Sets forth (Fund) submission and payment of claim provisions for milk producers unable to receive payment from bankrupt handlers.
Title II: Statutory Trust for Livestock Sellers - Amends the Packers and Stockyards Act, 1921 to establish a statutory trust for livestock sellers with respect to dealer or market agency purchasers.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on Livestock, Dairy and Poultry.
Executive Comment Requested from USDA.
Subcommittee Hearings Held. Hearings Printed: H. Hrg. 104-33.
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