H.R. 7494 — Introduced in House

I 118th CONGRESS 2d Session H. R. 7494 IN THE HOUSE OF REPRESENTATIVES February 29, 2024Mr. Green of Tennessee (for himself, Ms. Hageman, Mr. Burchett, Mr. Lamborn, Mr. Cloud, Mr. Ogles, Mrs. Miller of Illinois, Mr. Estes, Mr. Norman, Mr. Banks, Mr. Sessions, Mr. Bishop of North Carolina, Mr. Bost, Mr. Edwards, Mr. Donalds, Mr. Fulcher, Mr. Self, Mr. Curtis, Mr. Davidson, Mr. Rosendale, Mr. Newhouse, Mrs. Fischbach, Mr. Mooney, Mr. Moolenaar, Mr. Higgins of Louisiana, Mr. Zinke, Ms. Boebert, and Mr. Stauber) 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) .