H.R. 1309 — Protect America’s Lands Act

This section provides the short title of the Act as the “Protect America’s Lands Act.”

This section prohibits a national securities exchange registered under section 6(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78f(b)) from effecting transactions in securities issued by a natural asset company. As background, national securities exchanges are registered markets for trading securities under the Securities Exchange Act. This section defines a natural asset company as a company that: (1) holds the rights to the ecological performance of a defined land area, including value from natural assets and the production of ecosystem services, and has authority to manage that area for conservation, restoration, or sustainable management; and (2) has as its primary purpose, with respect to that land area, either to manage, maintain, restore, and grow the value of natural assets and ecosystem services in the area or to carry out activities that do not cause any material adverse impact on those natural assets and replenish the natural resources used in the area. The definition also includes any company that controls, is controlled by, or is under common control with such a company.