House Homeland Security Committee Chairman Mark Green, R-Tenn., during a hearing Jan. 30. (AP Photo/J. Scott Applewhite, File)
"As if that weren’t bad enough, as proposed, there are no limits placed on who can buy these lands. China, Russia, Iran and other bad actors would be free to participate and shut down U.S. energy, mineral and food production.
"The bottom line is that we must take back lawmaking authority from the administrative state before even more of our security, freedoms and rights are taken away."
UNITED NATIONS FOUNDATION IS QUIETLY FUELING CLIMATE POLICY, FUNDING STAFF IN DEM STATES
The legislation comes weeks after the New York Stock Exchange withdrew a proposal submitted with the SEC to allow the listing of NACs, a novel type of company chartered to "protect, restore and grow the natural assets under their management to foster healthy ecosystems."
The NYSE states that NACs "capture the intrinsic and productive value of nature and provide a store of value based on the vital assets that underpin our entire economy and make life on earth possible." Natural assets that could be grouped into an NAC include forests, wetlands and coral reefs, as well as working lands such as farms, according to the NYSE.
A drilling rig used to extract natural gas is pictured in Washington County, Pa. NACs could potentially curb future oil drilling and resource development on public lands. (AP Photo/Keith Srakocic, File)
Green similarly warned Thursday that publicly listing NACs would allow foreign investors to "monetize and control America’s natural resources."
"This could create a dangerous situation in which our nation's natural resources are owned by mystery investors who can unilaterally stop activities like mining and logging on America’s land … forever," his announcement stated.
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Cosponsors of Green and Hageman's bill were listed as Congressional Western Caucus Chairman Dan Newhouse, R-Wash., and fellow GOP representatives Ryan Zinke, Matt Rosendale, Keith Self, Pete Sessions, Michael Cloud, Lauren Boebert, Doug Lamborn, Russ Fulcher, Jim Banks, Tim Burchett, Andy Ogles, Dan Bishop, Chuck Edwards, Ralph Norman, Mike Bost, Mary Miller, John Curtis, Warren Davidson, Byron Donalds, Ronald Estes, Michelle Fischbach, Alex Mooney, John Moolenaar and Clay Higgins.
The SEC didn't immediately respond to a request for comment.
Thomas Catenacci is a politics writer for Fox News Digital.
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