119-hr1309

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1309 Introduced in House

    (IH) ]

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119th CONGRESS
 1st Session
 H. R. 1309

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.

_______________________________________________________________________

 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) .''.
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