House Bill 11-07, an act to prohibit natural asset companies (NACs), failed to receive a majority on the House floor. Sponsor Representative Alk described NACs as corporate structures that could buy rights to natural areas and permanently restrict resource production, and urged colleagues to vote to protect property rights and state economic activity.

In floor remarks Representative Alk said NAC proponents would seek to “lock up land and prevent the practices of producing products and services we in the state of South Dakota rely upon,” and argued the state should not allow ecosystems to be traded on financial markets. He referenced a proposed SEC rule change from 2023 as background for the bill and framed the measure as protecting agriculture, mining and energy industries.

Other members did not offer extended debate on the floor after committee consideration. The clerk recorded the final vote as ayes 28, nays 39, excused 1, and the bill was declared lost.

The sponsor characterized the NAC concept as “privatizing public lands through the sale of ecosystems” and urged members to consider economic and sovereignty implications. Opponents raised procedural or policy objections during committee or on floor without prolonged debate recorded in the transcript. The vote concludes House consideration without passage.