Protect America’s Lands Act

H.R. 1309, titled the Protect America’s Lands Act, would amend the Securities Exchange Act of 1934 to prohibit national securities exchanges from effecting transactions in securities issued by “natural asset companies.” A natural asset company is defined as a company that holds the rights to the ecological performance of a defined land area and has the authority to manage that area for conservation, restoration, or sustainable management. The bill specifies that the primary purpose of such a company is to manage and grow the value of natural assets and ecosystem services or to carry out activities that do not materially harm the natural assets and that replenish natural resources. The prohibition would apply to all securities issued by these natural asset companies, including those controlled by or controlling other entities with similar characteristics. The measure was introduced in the House by Rep. Green (with a group of co-sponsors) and referred to the Committee on Financial Services. In short, if enacted, the bill would bar U.S. national securities exchanges from trading securities of entities whose business is centered on conserving, restoring, or sustainably managing defined land areas, potentially altering how such conservation-finance ventures raise and trade capital in the U.S. market.