House committee hears bill to ban "natural asset companies" from doing business in North Dakota

The House Agriculture Committee opened a hearing on House Bill 1453 on Oct. 12, a proposal to prohibit ‘‘natural asset companies’’ from doing business in North Dakota. Sponsor Representative Haug told the committee the bill is meant to protect private property and working lands by preventing entities that monetize ecosystem services from acquiring management authority over land, water or air in the state.

Why it matters: proponents said the bill would block an investment vehicle they contend could take economic control of working land and limit traditional uses such as farming, grazing, hunting and timbering. Opponents — including two state commodity organizations and the North Dakota Association of Counties — said the bill as written could unintentionally prohibit farmer‑led conservation programs already operating in the state.

Representative Haug told the committee the concept of natural asset companies…