The resolution authorizes Senator King to introduce a non-appropriation bill aimed at amending the Arkansas Data Centers Act of 2023. The proposed amendments will modify the requirements for digital asset mining businesses and those utilizing blockchain networks, clarify local government authority over these operations, and prohibit certain foreign nationals from owning or investing in digital asset mining businesses in Arkansas. The bill seeks to enhance regulatory clarity and protect Arkansans from potential fraudulent practices in the digital asset sector.

Key changes include the redefinition of the act to focus on digital asset mining, the repeal of certain legislative findings, and the establishment of new compliance requirements for digital asset mining operations. Additionally, the bill outlines the conditions under which individuals can engage in home digital asset mining and prohibits local governments from imposing discriminatory regulations against these businesses. It also introduces penalties for foreign nationals who violate ownership restrictions, including potential divestiture and civil penalties, with proceeds allocated to various state departments for enforcement and oversight purposes.

Statutes affected:
SR 16: 14-1-601, 14-1-602, 14-1-603(10), 14-1-604, 14-1-605, 23-55-101, 23-3-114