Bill > HB1318

This bill aims to prohibit "natural asset companies," which are defined as entities that manage or grow the value of natural assets like soil, air, biodiversity, and water, and are listed by the Securities and Exchange Commission (SEC) as such, with exceptions for non-profits and certain farm operations. The bill explicitly forbids the state from doing business with these companies, granting them any interest in public land or state resources, or investing state money in them through securities, funds, or private placements; it also prevents the state from approving, guaranteeing, or sponsoring any bond offerings involving them. Furthermore, natural asset companies are barred from operating, conducting business, or acquiring assets or interests within the state, and any natural asset acquired by such a company would revert to its prior owner with any associated rights voided. The bill allows for legal action against violations, with potential recovery of attorney fees, and mandates the Secretary of State to revoke any authority for natural asset companies to do business in the state, refusing to file their documents or accept fees. Contracts with these companies entered into after July 1, 2026, will be void, though these prohibitions do not apply to the South Dakota Retirement System or assets managed by the State Investment Council.

Business and Industry

https://sdlegislature.gov/#/Session/Bill/27102