Daily Caller: 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. more
Screw that. Pass legislation allowing and recognizing titles held in allodium. To hell with fee simple.
“Unconditional private property being necessary for the security of a free state, the right to allodial title shall not be infringed.”
“Rep. Mark Green (R-TN) Unveils Bill To Shield American Land From ‘Environmental Zealots,’”
Isn’t it funny his name is Green? I bet all the “greenies” are fuming right now.
It’s not just NACs they need to prevent sovereign funds, hedge funds etc. from acquiring property also. They IMO are NACs using a different name for cover.
If you actually read the bill, it essentially says that a company that owns land, like a paper company, can’t if they are publicly traded. This is absurd and I’m not reading it wrong. It most certainly DOESNT protect private property. That is a hideous bill
Uncle Al, allodium means that someone can decide to have a garbage dump or windmill farm next door to another person’s home, as well as gutting the ability of local governments to function without enacting income taxes and hideously high sales taxes. (Do you want more of those?)
For everyone else: yes it’s time to just ban foreign ownership of U.S. land altogether wherever this practicably can be done, whether outright or as controlling “shares” of a company.
@janitor:
I’m well aware of what that concept means, and it doesn’t mean that tort law disappears. If your neighbor does something that damages you, sue him.
Local govts are too fscking big and powerful now. Choking off their money supply seems like a fine idea to me.