Emergency Livestock Replacement Act

[AI summary unavailable — showing source text] 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.…