A bill to assist farmers and ranchers to replace foundation herds of cattle such farmers and ranchers are forced to sell as the result of natural disasters.
Emergency Livestock Replacement Act - Authorizes the Secretary of Agriculture to designate as disaster areas localities, where, as a result of a natural disaster, the farmers and ranchers in such area cannot, without extreme financial hardship, maintain their foundation herds of cattle.
Authorizes the Secretary to provide such individuals with foundation herd indemnification protection for up to 100 head of cattle provided such individual sells his foundation herd and purchases a replacement herd within two years. Stipulates that the amount of replacement payment shall be the difference between the cost of the replacement herd and the Secretary's appraised dollar value of the foundation herd sold by the farmer or rancher.
Introduced in Senate
Referred to Senate Committee on Agriculture and Forestry (Subsequently: Agriculture, Nutrition and Forestry).
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