HB0093, the Protect Wyoming's Lands Act, would create a new state law chapter defining “natural asset company” and restricting how such entities may monetize credits tied to land in Wyoming. The bill targets companies that hold conservation interests or ecological-performance rights in Wyoming land and whose primary purpose is to manage, restore, or maintain natural assets and ecosystem services. Under the bill, a natural asset company with a conservation interest in land or a defined land area entirely within Wyoming would be prohibited from selling its credits through a national securities exchange registered under federal securities law.
The bill does not ban these companies outright, and it does not prevent them from selling credits associated with land outside Wyoming. Its application is limited to natural asset companies with conservation interests in land or defined land areas entirely within the state on or after the effective date. The act would take effect immediately upon completion of the legislative process.
Impact
HB0093 would add a new chapter to Title 17 of Wyoming statutes governing corporations, partnerships, and associations. It would create statutory definitions for natural asset companies and make it unlawful for certain Wyoming-based land-credit transactions to be conducted through a national securities exchange. The practical effect is to limit a specific financing or trading mechanism for conservation- and ecosystem-service-related credits tied wholly to Wyoming land, while leaving other business activities and out-of-state credit sales untouched.
Sentiment
The bill appears to have had strong support in the House and initial support in the Senate Agriculture Committee, but it ultimately failed on Senate Committee of the Whole. It passed the House 57-4 after a favorable committee recommendation, and the Senate Agriculture Committee also recommended do pass unanimously. The final 11-20 COW vote indicates that broader Senate sentiment was significantly less favorable than the earlier committee and House votes suggested.
Contention
The main point of contention is the bill’s restriction on selling credits through national securities exchanges, which likely raised concerns about market access, property rights, and the scope of state regulation over conservation finance. Supporters appear to have viewed the bill as protecting Wyoming lands from outside financial structures tied to natural asset companies, while opponents likely objected to limiting a lawful financing mechanism for land stewardship or conservation projects. The split between the strong House vote and the failed Senate floor vote suggests disagreement over whether the bill protects state interests or unnecessarily interferes with emerging land-credit markets.