Republican Tennessee Rep. Mark Green will reintroduce legislation on Thursday aimed at protecting American land.
The bill, known as the Protect America’s Lands Act, would prevent the Securities and Exchange Commission (SEC) from creating Natural Asset Companies (NACs) — or proposed for-profit corporations intended to maximize the value of natural assets and their production on public or private lands — according to a copy of bill obtained exclusively by the Daily Caller News Foundation. Notably, NACs have come under scrutiny over claims that they could potentially lead to foreign adversaries gaining control of valuable land resources in the U.S., and harming rural economies like those based on agriculture.
“As a businessman and conservationist, this issue really hits home,” Green told the DCNF. “The creation of NACs would be a terrible deal for Americans. Our foreign adversaries are chomping at the bit for us to put our most precious asset for sale—American land. We’ve got to keep them and environmental zealots as far from our public lands as possible.”
The New York Stock Exchange (NYSE) submitted a proposal to the SEC in September 2023 that would have allowed it to list NACs on the exchange. The exchange’s proposal faced major opposition from many state officials, who wrote a letter in January 2024 urging the Biden-Harris administration to reject the rule, claiming that NACs would have “catastrophic” effects, such as reducing economic activity in rural areas of the U.S. (RELATED: EXCLUSIVE: Rep. Mark Green Introduces Bill To Block Biden Admin Rule Restricting Firearm Sales)
The NYSE ultimately withdrew its proposed rule from the SEC’s consideration on Jan. 17, 2024. […]
— Read More: dailycaller.com
