Congresswoman Harriet Hageman (R-WY) introduced an amendment to H.R. 4664, the Financial Services and General Government Appropriations Bill. The amendment prohibits funds from being made available to the SEC to approve a rule change proposed by the New York Stock Exchange LLC to adopt listing standards for Natural Asset Companies (NACs).

On Oct. 4, the SEC proposed a new investment vehicle called the "Natural Asset Company (NAC)," created in collaboration with the Intrinsic Exchange Group (IEG) and supported by organizations like the Rockefeller Foundation and the World Wildlife Fund. The SEC's proposed rule allows federal lands, including national parks, to become part of NACs and grants these NACs significant "management authority," Federal Newswire reported. 

The IEG, introduced the investment proposal to capitalize on what they refer to as "nature's economy." This involves the partnership with the New York Stock Exchange NYSE and the listing of the "Natural Asset Company" on the NYSE, enabling the public to participate in buying and selling shares. The Natural Asset Company assumes ownership rights over public lands, with some of these lands acquired from public land trusts. 

There is a debate regarding the objectives of NACs, with some arguing that they are more about political and financial control of global natural resources, especially in the United States, which has prompted calls for immediate congressional oversight. The proposed rule raises constitutional concerns about private entities overseeing lands within Congress's jurisdiction and may limit productive uses for human well-being.

The SEC Proposed Rule allows foreign interests, including China, to create and invest in NACs, potentially granting them influence over U.S. federal lands and profits from their protection. There appears to be no apparent restrictions on foreign nations' involvement in NACs.

Justin Bis, the director of Financial Fairness Alliance, has called on the Security and Exchange Commission (SEC) to reject the New York Stock Exchange's (NYSE) recent proposal. In a letter addressed to Vanessa Countryman, the secretary of the SEC, Bis argued that the proposal would have negative consequences for American life and public investing and raised concerns about market fairness, the potential influence of special interests on capital market rules, and potential threats to national security.