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To amend the Securities Exchange Act of 1934 to prohibit exchanges from effecting transactions in securities issued by natural asset companies, and for other purposes.
Summary
This bill prohibits national securities exchanges from trading securities issued by natural asset companies. A natural asset company is defined as one that holds rights to manage a defined land area for conservation, restoration, or sustainable management of natural assets and ecosystem services. The prohibition would prevent these conservation-focused companies from being publicly traded or having their securities transacted on regulated exchanges.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Green, Mark E. [R-TN-7] (R-TN)
22 cosponsors
- Rep. Bentz, Cliff [R-OR-2] (R-OR)
- Rep. Burchett, Tim [R-TN-2] (R-TN)
- Rep. Cline, Ben [R-VA-6] (R-VA)
- Rep. Collins, Mike [R-GA-10] (R-GA)
- Rep. Crane, Elijah [R-AZ-2] (R-AZ)
- Rep. Downing, Troy [R-MT-2] (R-MT)
- Rep. Estes, Ron [R-KS-4] (R-KS)
- Rep. Fulcher, Russ [R-ID-1] (R-ID)
- Rep. Guest, Michael [R-MS-3] (R-MS)
- Rep. Hageman, Harriet M. [R-WY-At Large] (R-WY)
- Rep. Higgins, Clay [R-LA-3] (R-LA)
- Rep. Maloy, Celeste [R-UT-2] (R-UT)
- Rep. Mann, Tracey [R-KS-1] (R-KS)
- Rep. Miller, Mary E. [R-IL-15] (R-IL)
- Rep. Moolenaar, John R. [R-MI-2] (R-MI)
- Rep. Newhouse, Dan [R-WA-4] (R-WA)
- Rep. Norman, Ralph [R-SC-5] (R-SC)
- Rep. Ogles, Andrew [R-TN-5] (R-TN)
- Rep. Tiffany, Thomas P. [R-WI-7] (R-WI)
- Rep. Van Drew, Jefferson [R-NJ-2] (R-NJ)
- Rep. Weber, Randy K. Sr. [R-TX-14] (R-TX)
- Rep. Zinke, Ryan K. [R-MT-1] (R-MT)
Actions (2)
- Feb 13, 2025 Referred to the House Committee on Financial Services. · house
- Feb 13, 2025 Introduced in House
Similar bills (6)
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
February 13, 2025
Mr. Green of Tennessee (for himself, Ms. Hageman, Mr. Burchett, Mr. Ogles, Mrs. Miller of Illinois, Mr. Estes, Mr. Norman, Mr. Newhouse, Mr. Moolenaar, Mr. Higgins of Louisiana, Mr. Zinke, Mr. Guest, Mr. Crane, Mr. Bentz, Mr. Cline, Mr. Downing, Mr. Weber of Texas, Ms. Maloy, Mr. Collins, and Mr. Van Drew) introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To amend the Securities Exchange Act of 1934 to prohibit exchanges from effecting transactions in securities issued by natural asset companies, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Protect America’s Lands Act”.
SEC. 2. PROHIBITION WITH RESPECT TO EFFECTING TRANSACTIONS IN SECURITIES ISSUED BY NATURAL ASSET COMPANIES.
Section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f) is amended by adding at the end the following:
“(m) Prohibition With Respect to Effecting Transactions in Securities Issued by Natural Asset Companies.—
“(1) In general.—It shall be unlawful for a national securities exchange registered under subsection (b) to effect a transaction in a security issued by a natural asset company.
“(2) Natural asset company defined.—In this subsection, the term ‘natural asset company’—
“(A) means a company—
“(i) that holds the rights to the ecological performance (including value from natural assets and the production of ecosystem services) of a defined land area and has the authority to manage such area for conservation, restoration, or sustainable management; and
“(ii) the primary purpose of which, with respect to such defined land area, is to—
“(I) manage, maintain, restore, and grow the value of natural assets and the production of ecosystem services in the area; or
“(II) carry out activities that do not cause any material adverse impact on the condition of the natural assets in the area and replenish the natural resources used in the area; and
“(B) includes any company that controls, is controlled by, or is under common control with another company described in subparagraph (A).”. <all>
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