| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 1309 |
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| 5 | 5 | | To amend the Securities Exchange Act of 1934 to prohibit exchanges from |
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| 6 | 6 | | effecting transactions in securities issued by natural asset companies, |
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| 7 | 7 | | and for other purposes. |
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| 8 | 8 | | IN THE HOUSE OF REPRESENTATIVES |
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| 9 | 9 | | FEBRUARY13, 2025 |
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| 10 | 10 | | Mr. G |
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| 11 | 11 | | REENof Tennessee (for himself, Ms. HAGEMAN, Mr. BURCHETT, Mr. |
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| 12 | 12 | | O |
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| 13 | 13 | | GLES, Mrs. MILLERof Illinois, Mr. ESTES, Mr. NORMAN, Mr. |
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| 14 | 14 | | N |
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| 15 | 15 | | EWHOUSE, Mr. MOOLENAAR, Mr. HIGGINSof Louisiana, Mr. ZINKE, |
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| 16 | 16 | | Mr. G |
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| 17 | 17 | | UEST, Mr. CRANE, Mr. BENTZ, Mr. CLINE, Mr. DOWNING, Mr. |
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| 18 | 18 | | W |
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| 19 | 19 | | EBERof Texas, Ms. MALOY, Mr. COLLINS, and Mr. VANDREW) intro- |
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| 20 | 20 | | duced the following bill; which was referred to the Committee on Finan- |
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| 21 | 21 | | cial Services |
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| 22 | 22 | | A BILL |
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| 23 | 23 | | To amend the Securities Exchange Act of 1934 to prohibit |
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| 24 | 24 | | exchanges from effecting transactions in securities issued |
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| 25 | 25 | | by natural asset companies, and for other purposes. |
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| 26 | 26 | | Be it enacted by the Senate and House of Representa-1 |
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| 27 | 27 | | tives of the United States of America in Congress assembled, 2 |
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| 28 | 28 | | SECTION 1. SHORT TITLE. 3 |
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| 29 | 29 | | This Act may be cited as the ‘‘Protect America’s 4 |
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| 30 | 30 | | Lands Act’’. 5 |
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| 31 | 31 | | VerDate Sep 11 2014 01:38 Mar 11, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1309.IH H1309 |
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| 32 | 32 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 33 | 33 | | •HR 1309 IH |
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| 34 | 34 | | SEC. 2. PROHIBITION WITH RESPECT TO EFFECTING 1 |
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| 35 | 35 | | TRANSACTIONS IN SECURITIES ISSUED BY 2 |
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| 36 | 36 | | NATURAL ASSET COMPANIES. 3 |
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| 37 | 37 | | Section 6 of the Securities Exchange Act of 1934 (15 4 |
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| 38 | 38 | | U.S.C. 78f) is amended by adding at the end the following: 5 |
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| 39 | 39 | | ‘‘(m) P |
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| 40 | 40 | | ROHIBITIONWITHRESPECT TOEFFECTING 6 |
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| 41 | 41 | | T |
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| 42 | 42 | | RANSACTIONS IN SECURITIESISSUED BY NATURAL 7 |
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| 43 | 43 | | A |
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| 44 | 44 | | SSETCOMPANIES.— 8 |
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| 45 | 45 | | ‘‘(1) I |
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| 46 | 46 | | N GENERAL.—It shall be unlawful for a 9 |
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| 47 | 47 | | national securities exchange registered under sub-10 |
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| 48 | 48 | | section (b) to effect a transaction in a security 11 |
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| 49 | 49 | | issued by a natural asset company. 12 |
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| 50 | 50 | | ‘‘(2) N |
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| 51 | 51 | | ATURAL ASSET COMPANY DEFINED .—In 13 |
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| 52 | 52 | | this subsection, the term ‘natural asset company’— 14 |
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| 53 | 53 | | ‘‘(A) means a company— 15 |
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| 54 | 54 | | ‘‘(i) that holds the rights to the eco-16 |
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| 55 | 55 | | logical performance (including value from 17 |
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| 56 | 56 | | natural assets and the production of eco-18 |
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| 57 | 57 | | system services) of a defined land area and 19 |
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| 58 | 58 | | has the authority to manage such area for 20 |
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| 59 | 59 | | conservation, restoration, or sustainable 21 |
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| 60 | 60 | | management; and 22 |
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| 61 | 61 | | ‘‘(ii) the primary purpose of which, 23 |
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| 62 | 62 | | with respect to such defined land area, is 24 |
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| 63 | 63 | | to— 25 |
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| 64 | 64 | | VerDate Sep 11 2014 01:38 Mar 11, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1309.IH H1309 |
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| 65 | 65 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 3 |
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| 66 | 66 | | •HR 1309 IH |
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| 67 | 67 | | ‘‘(I) manage, maintain, restore, 1 |
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| 68 | 68 | | and grow the value of natural assets 2 |
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| 69 | 69 | | and the production of ecosystem serv-3 |
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| 70 | 70 | | ices in the area; or 4 |
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| 71 | 71 | | ‘‘(II) carry out activities that do 5 |
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| 72 | 72 | | not cause any material adverse impact 6 |
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| 73 | 73 | | on the condition of the natural assets 7 |
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| 74 | 74 | | in the area and replenish the natural 8 |
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| 75 | 75 | | resources used in the area; and 9 |
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| 76 | 76 | | ‘‘(B) includes any company that controls, 10 |
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| 77 | 77 | | is controlled by, or is under common control 11 |
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| 78 | 78 | | with another company described in subpara-12 |
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| 79 | 79 | | graph (A).’’. 13 |
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| 80 | 80 | | Æ |
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| 81 | 81 | | VerDate Sep 11 2014 01:38 Mar 11, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H1309.IH H1309 |
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| 82 | 82 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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