AR SR16

Renames the "Arkansas Data Centers Act of 2023" to the "Digital Asset Mining Act" and repeals legislative findings section.

Removes the definition of "ordinance" that prohibited individuals from operating businesses from residences, allowing home digital asset mining without permit requirements from local governments.

Requires digital asset mining businesses to comply with state law, utility rules and rates, employment laws, and pay all applicable taxes in acceptable currency; prohibits operations that stress utility generation or transmission capabilities.

Prohibits local governments from imposing discriminatory sound limits, different requirements than data centers, or rezoning areas with intent to discriminate against digital asset mining businesses.

Prohibits foreign nationals (as defined by International Traffic in Arms Regulations, 22 C.F.R. §§ 120.1-130.17) from owning or operating digital asset mining businesses in Arkansas, with enforcement authority granted to the Attorney General and civil penalties of $25,000-$50,000 for violations.