prohibit natural asset companies.

This bill prohibits the state of South Dakota from engaging with "natural asset companies," which are defined as entities holding rights to manage or restore ecological resources like soil, water, and biodiversity. It bans state agencies from leasing public land to these companies, investing state money in them, or entering into any business agreements that would grant them an interest in state resources. Additionally, the bill prevents natural assets from being transferred to such companies and requires the Secretary of State to revoke or deny business licenses for any entity that operates as a natural asset company. The law explicitly excludes nonprofits, privately held farms, and companies providing physical ecosystem services from these restrictions.