HB0177 • 2024

Natural asset companies prohibition.

AN ACT relating to corporations, partnerships and associations; the administration of government; prohibiting natural asset companies from operating in Wyoming as specified; prohibiting conservation easements from utilizing natural asset companies as specified; prohibiting the state treasurer from investing in natural asset companies; providing definitions; and providing for an effective date.

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor: Representative Slagle
Last action: 2024-02-16
Official status: inactive
Effective date: 3/1/2024

Plain English Breakdown

The official source does not provide specific details on how existing investments would be handled if the bill were to become law.

Ban on Natural Asset Companies

The bill prohibits natural asset companies from operating in Wyoming and restricts the state treasurer from investing in these companies.

What This Bill Does

Defines a 'natural asset company' as a business recognized by the federal securities and exchange commission that holds rights to natural or agricultural working areas, including national reserves and large-scale farmlands, and manages them for conservation, restoration, or sustainable management.
Bans natural asset companies from managing any land within Wyoming's borders.
Prohibits holders of conservation easements in Wyoming from using natural asset companies to invest or sell credits.
Forbids the state treasurer from investing money in natural asset companies.

Who It Names or Affects

Natural asset companies
Holders of conservation easements within Wyoming
The state treasurer

Terms To Know

natural asset company: A business recognized by the federal securities and exchange commission that holds rights to natural or agricultural working areas, including national reserves and large-scale farmlands, and manages them for conservation, restoration, or sustainable management.

Limits and Unknowns

The bill did not pass and was not considered for introduction.
It is unclear how existing investments in natural asset companies will be handled if the bill were to become law.

Bill History

2024-02-16 House
H Did not Consider for Introduction
2024-02-13 House
H Received for Introduction
2024-02-12 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

24LSO-0487
2024
STATE OF WYOMING
24LSO-0487
Numbered
2.0

HOUSE BILL NO. HB0177

Natural asset companies prohibition.

Sponsored by: Representative(s) Slagle, Allemand, Banks, Heiner, Jennings, Pendergraft, Penn, Singh, Strock and Winter and Senator(s) Brennan, Ide and Steinmetz

A BILL

for

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 17
‑
32
‑
101 is created to read:

CHAPTER 32
NATURAL ASSET COMPANIES

17
‑
32
‑
101.

Natural asset companies; definition; prohibition; state treasurer investments.

(a)

As used in this section, "natural asset company" means a person recognized by the federal securities and exchange commission that holds the rights to natural or agricultural working areas, including national reserves and large scale farmlands, and has the authority to manage the areas for conservation, restoration or sustainable management. For purposes of this section, natural asset companies are limited to companies whose stock can be traded.

(b)

No natural asset company shall manage federal, state or private land within the borders of the state. No holder of conservation easements within the state shall create or utilize natural asset companies by investing or selling natural asset company credits.

(c)

The state treasurer is prohibited from making investments in natural asset companies.

Section 2
.

This act is effective July 1, 2024
.

(END)

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HB0177