Processing Revival and Intrastate Meat Exemption Act or the PRIME Act This bill amends the Federal Meat Inspection Act to expand the exemption of custom slaughtering of animals from federal inspection requirements. Under current law, the exemption applies if the meat is slaughtered for personal, household, guest, and employee uses. The bill expands the exemption to include meat that is: slaughtered and prepared at a custom slaughter facility in accordance with the laws of the state where the facility is located; and prepared exclusively for distribution to household consumers in the state or restaurants, hotels, boarding houses, grocery stores, or other establishments in the state that either prepare meals served directly to consumers or offer meat and food products for sale directly to consumers in the state. The bill does not preempt any state law concerning: (1) the slaughter of animals or the preparation of carcasses, parts thereof, meat and meat food products at a custom slaughter facility; or (2) the sale of meat or meat food products.