S. 3656: Mandatory Price Reporting Act

S. 3656

Mandatory Price Reporting Act

Date
September 16, 2010 (111th Congress, 2nd Session)

Staff Contact
Communications

Floor Situation

S. 3656 is expected to be considered on the House floor on Wednesday, September 15, 2010, under suspension of the rules, requiring a two-thirds majority vote for passage.  This legislation was introduced by Sen. Blanche Lincoln (D-AR) on July 27, 2010. 

Bill Summary

S. 3656 would reauthorize provisions under current laws that require certain cattle and swine packers to report price information to the Department of Agriculture.  These provisions are currently set to expire Sept. 30, 2010; this bill would reauthorize those provisions by five years, until September 30, 2015.

S. 3656 would also require livestock packers, processors, and importers to report information to the Department of Agriculture on wholesale pork cuts and the export of pork products.

Lastly, the bill would expand reporting requirements to include packers of wholesale pork cuts and would direct the Secretary of the Department of Agriculture to implement an electronic system for dairy price reporting, which would collect and report original contracts, agreements, receipts, and other records related to the storage and sale of any dairy products.

Background

Currently, certain livestock packers, processors, and importers, are required to report prices and supply and demand information on a daily and weekly basis.  The information is used by the Department of Agriculture’s Agricultural Marketing Service (AMS), which summarizes and provides the information to the public. 

Possible Member Concerns:

The bill would impose private sector mandates by establishing new reporting requirements for packers and exporters of pork and pork products. 

  • Certain packers would be required to submit information about the price and volume of wholesale pork cuts, and exporters would have to submit a weekly report containing information on exports of pork;
  • CBO estimates that the aggregate cost to the private sector would be $141 million annually.

Cost

There is currently no CBO score for S. 3656 as of press time.  However, the companion bill, H.R. 5852, would cost $50 million over a five year period.