Loading chat...

AR SR5

Resolution

Status

Passed

4/11/2024

Primary Sponsor

Joshua Bryant

Click for details

Origin

Senate

94th General Assembly (2024 Fiscal)

AI Summary

  • Amends the Arkansas Data Centers Act of 2023 to require digital asset mining businesses to apply noise-reduction techniques, including liquid cooling, full envelope enclosure, or locating at least 2,000 feet from residential/commercial structures or in industrial zones.

  • Clarifies that Arkansas residents may engage in home digital asset mining and prohibits local governments from passing ordinances that ban or require approval for home digital asset mining operations.

  • Prohibits foreign-party-controlled businesses (defined as entities with 15% or more ownership by citizens/residents of countries subject to International Traffic in Arms Regulations) from acquiring or holding interests in Arkansas digital asset mining businesses.

  • Requires prohibited foreign-party-controlled businesses operating before the effective date to divest within 6 months; empowers the Attorney General to investigate violations and pursue remedies including judicial foreclosure, civil penalties up to $15,000, treble damages for non-payment, and attorney's fees.

  • Declares an emergency, with the act becoming effective 30 days after gubernatorial approval or expiration of veto period, citing concerns about noise pollution and potential security threats from foreign-controlled mining operations.

Legislative Description

To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Prohibit Foreign-party-controlled Ownership Of A Digital Asset Mining Business.

Last Action

Sine Die adjournment

5/10/2024

Full Bill Text

No bill text available