DEFINITION OF MARKET AGENCY.

SEC. 2. DEFINITION OF MARKET AGENCY. (a) In General.—Section 301(c) of the Packers and Stockyards Act, 1921 (7 U.S.C. 201(c)) is amended— (1) by striking “; and” at the end and inserting a period; and (2) by adding at the end the following: “Beginning on the date of the enactment of the Clarification of Treatment of Electronic Sales of Livestock Act of 2016, such term includes any person who engages in the business of buying or selling livestock, on a commission or other fee basis, through the use of online, video, or other electronic methods when handling or providing the means to handle receivables or proceeds from such buying or selling, so long as such person’s annual average of online, video, or electronic sales of livestock, on a commission or other fee basis, exceeds $250,000.”. (b) Technical Amendments.—Section 301 of the Packers and Stockyards Act, 1921 (7 U.S.C. 201) is amended— (1) in the matter preceding subsection (a), by striking “When used in this Act—” and inserting “In this Act:”; (2) in subsection (a), by striking the semicolon at the end and inserting a period; and (3) in subsection (b)— (A) by striking “weighting” and inserting “weighing”; and (B) by striking the semicolon at the end and inserting a period.