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MK

Bill

HR 2063

To prohibit natural asset companies from entering into any agreement with respect to land in the State of Utah or natural assets on or in land in the State of Utah.

119th Congress Introduced by Mike Kennedy

Prohibits natural asset companies from entering any agreements about land in Utah or its natural assets on Utah land, hindering conservation or ecosystem-service contracts there.

Introduced in House
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WeVote Research Nonpartisan
Bill Summary · HR 2063

Summary of HR 2063

Overview

HR 2063 would prohibit natural asset companies from entering into any agreement related to land in Utah or to natural assets on or in land in Utah. The bill defines what constitutes a natural asset company and then places a broad prohibition on agreements regarding Utah land or its natural assets.

  • Status: Introduced in the House on March 11, 2025
  • Legislative action: Referred to the House Committee on Natural Resources
  • Primary sponsor: Rep. Mike Kennedy
  • Related: Companion Senate bill S. 941

Key Provisions

  • Definition of a natural asset company:
    • (1) A corporation that holds the rights to the ecological performance of a defined area and has authority to manage that area for conservation, restoration, or sustainable management; or
    • (2) A company or organization substantially similar to the described corporation in (1).
  • Prohibition:
    • A natural asset company may not enter into any agreement with respect to:
    • (1) land in the State of Utah; or
    • (2) natural assets on or in land in the State of Utah.

Scope and Impact

  • Who is affected: Any natural asset company that would meet the defined criteria, and any parties seeking to enter into agreements with such entities regarding Utah land or its natural assets.
  • What would change: The bill would prevent natural asset companies from forming, negotiating, or entering contracts and agreements tied to land in Utah or to natural assets located on or within Utah land. This could affect potential conservation arrangements, ecosystem services projects, land-use agreements, or other contracts involving these entities.

Legislative History and Timeline

  • Introduction date: March 11, 2025
  • Actions to date: Introduced in the House and referred to the House Committee on Natural Resources
  • Next steps (procedural): Committee consideration, potential floor action, and movement toward or away from further stages in the legislative process.

Related Legislation

  • Companion bill: S. 941 (Senate counterpart)

Potential Implications

  • The bill underscores a regulatory stance against the involvement of natural asset companies in Utah land transactions or management of natural assets on Utah land.
  • If enacted, it could constrain efforts to leverage ecosystem services or conservation-based financial arrangements that rely on “natural asset” frameworks within Utah.
  • Stakeholders include natural asset companies, landowners, conservation organizations, and governmental entities involved in land use or environmental management.

Notes

  • The text provides the core prohibition and the specific definition of a natural asset company, but does not specify enforcement mechanisms, penalties, or criteria for how the prohibition would be interpreted in edge cases.

Compiled from official sources — confirm details with the bill’s official record.

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