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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7494 Introduced in House (IH)]

<DOC>

118th CONGRESS
  2d Session
                                H. R. 7494

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 29, 2024

  Mr. 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.

    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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