Clarification of Treatment of Electronic Sales of Livestock Act of 2016

[AI summary unavailable — showing source text] Technical and Clarifying Amendments to the Packers and Stockyards Act of 2016 This bill amends the Packers and Stockyards Act, 1921 to expand the definition of "marketing agency" to include any person engaged in the business of buying or selling livestock in commerce through online, video, or other electronic methods on a commission or other fee basis when handling or providing a means to handle receivables or proceeds from the sale of that livestock. The bill also specifies that funds for purchasing livestock may be transferred to the account of the seller by electronic funds transfer or any other expeditious method that the Department of Agriculture determines to be appropriate.…