AR HB1477

Adds new section 23-18-913 to Arkansas Code exempting qualifying data centers from storm recovery costs and charges under the Electric Utility and Gas Utility Storm Recovery Securitization Act

Defines "data center" as a facility classified within specific North American Industry Classification System codes (516210, 517111, 518210, 519290, 541512, 541513) as of January 1, 2023

Requires data centers to make a capital investment of at least $10,000,000 in Arkansas and create at least 50 new full-time permanent jobs with average hourly wages of at least 150% of the county or state average hourly wage, whichever is lesser

Excludes cryptocurrency operations from the data center definition and applies exemption only if the data center has a dedicated substation or owns a substation

Declares an emergency effective on date of gubernatorial approval, expiration of veto period, or veto override, citing time-sensitive economic development projects and the data center industry's sensitivity to electric utility costs