A bill to amend the Livestock Mandatory Price Reporting Act of 1999 to modify the termination date for mandatory price reporting.
Latest Action
Became Public Law No: 108-444.
Official Summary
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GovScope Watchdog™
AI Government Intelligence™This bill amends the Livestock Mandatory Price Reporting Act of 1999 by modifying the termination date for mandatory price reporting requirements. The amendment extends the period during which livestock price reporting is mandatory, ensuring continued collection and dissemination of price information in the livestock market. The bill was passed by the Senate and subsequently became Public Law No: 108-444 on December 3, 2004.
The legislation extends the mandatory livestock price reporting period, maintaining government oversight of livestock market prices beyond the original termination date.
- Amends the Livestock Mandatory Price Reporting Act of 1999 to change the termination date for mandatory price reporting.
- Ensures continued mandatory reporting of livestock prices to provide market transparency.
- The bill was enacted into law on December 3, 2004, as Public Law No: 108-444.
['Livestock producers and sellers who rely on price transparency for market decisions', 'Meat processors and buyers who use price reports for procurement', 'Government agencies responsible for agricultural market oversight, such as the USDA']
['Costs associated with continued mandatory price reporting and data collection', 'Administrative burden on reporting entities to comply with extended requirements', 'Oversight mechanisms to ensure accuracy and timeliness of reported data']
The bill was introduced and passed during the 108th Congress, reflecting ongoing legislative efforts to maintain transparency in agricultural markets. It builds on the original 1999 Act by extending the duration of mandatory price reporting, indicating congressional intent to continue government involvement in livestock market data collection.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Sustained availability of livestock price data may improve market efficiency and decision-making for producers and buyers.', 'Extended government involvement in price reporting could influence market transparency and competitive dynamics.']
The bill’s extension of mandatory price reporting underscores the importance of monitoring implementation costs and compliance burdens. Transparency regarding the accuracy and timeliness of reported data remains critical for effective market oversight. Oversight mechanisms should ensure that extended reporting requirements do not impose undue burdens while maintaining data quality.
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