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 establish clearer guidelines to protect Arkansans from fraudulent practices while promoting the growth of the digital asset mining industry within the state.

Key changes include the redefinition of the act to focus on digital asset mining, the repeal of certain legislative findings, and the introduction of new regulations regarding the operation of digital asset mining businesses. These regulations will ensure compliance with state and local laws, tax obligations, and utility service requirements. Additionally, the bill outlines the process for divestiture of ownership interests by foreign nationals in violation of the new provisions, including penalties for non-compliance. Overall, the resolution aims to foster a more regulated and secure environment for digital asset mining in Arkansas.

Statutes affected:
HR 1015: 14-1-601, 14-1-602, 14-1-603(10), 14-1-604, 14-1-605, 23-55-101, 23-3-114