H.R. 1309

119 HR 1309 IH: Protect America’s Lands Act
 U.S. House of Representatives
 2025-02-13
 text/xml
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 I  119th CONGRESS  1st Session  H. R. 1309  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.
1.
Short title
This Act may be cited as the   Protect America’s Lands Act  .
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).
 .