Divestiture authority

(a) Commission authority (1) In general With respect to any violation of section 101, the Commission shall develop and oversee a divestiture plan for the covered meatpacking enterprise that provides for— (A) the sale of assets to 1 or more independent entities; or (B) the creation of 1 or more new, independent entities through spin-off or other structural separation. (2) Standards In exercising its authority under paragraph (1), the Commission shall— (A) act in a manner consistent with the public interest in promoting competition, protecting consumers, producers, and workers, and ensuring a resilient food supply, as described in section 602; and (B) to the maximum extent practicable, structure divestitures under this section so as to— (i) avoid reconcentration of assets; (ii) encourage ownership and control of divested assets by farmers’ cooperatives, worker owned enterprises, and other small or mid sized businesses; and (iii) prevent reacquisition of divested assets by firms whose market power contributed to the need for divestiture. (b) Transition; compliance plans (1) In general Not later than 120 days after the date of enactment of this Act, the Commission shall develop a plan for the divestiture of each covered meatpacking enterprise that, as of the date of enactment of this Act, is engaged in the processing of more than 1 line of protein in violation of section 101. (2) Comment Not later than 30 days after the development of a plan under this section, a covered meatpacking enterprise shall submit to the Commission any comments on the plan. (3) Approval of plan Following the end of the comment period under paragraph (2), the Commission shall consider and respond to significant comments received under that paragraph and approve a final version of the plan.