U.S. Representative Mark Green on Monday said his legislation seeking to permanently prohibit a Biden-era scheme between the Securities and Exchange Commission (SEC) and the New York Stock Exchange (NYSE) to create a new class of company that would allow foreigners to buy American land for the sole purpose of discontinuing all economic activity.
Green earlier this month introduced the Protect America’s Lands Act, which would specifically prohibit the establishment of Natural Asset Companies (NACs). The concept, under the Biden administration policy proposed between the SEC and NYSE, would have allowed the foreign purchase of American land for the purpose of returning it to its natural state.
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