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GA HB1621
Bill
Status
Introduced
4/4/2022
Primary Sponsor
Marvin Lim
Click for details
AI Summary
- Requires packers, market agencies, and dealers purchasing livestock to deliver full payment to the seller before the close of the next business day following the purchase and transfer of possession, via check, wire, electronic funds transfer, or other method approved by the Commissioner of Agriculture
- For purchases on a carcass or "grade and yield" basis, full payment must be made no later than the close of the first business day following determination of the purchase price
- Allows parties to a livestock transaction to expressly agree in writing to alternative payment terms before the purchase or sale, subject to conditions prescribed by the Commissioner of Agriculture, with such agreements disclosed in the records of all parties
- Establishes that any delay or attempt to delay payment for livestock constitutes a misdemeanor, punishable by a fine up to $1,000, imprisonment up to 12 months, or both
- Authorizes the Georgia Development Authority to guarantee or insure loans and provide grants (as appropriated by the General Assembly) to licensed meat and poultry processing plants employing fewer than 200 employees
Legislative Description
Food; payment requirements for purchase and sale of livestock; provide
Last Action
House Hopper
4/4/2022
Full Bill Text
No bill text available