The bill aims to amend existing laws concerning natural resources by conducting a comprehensive study related to critical minerals, particularly focusing on lithium recovery. The General Assembly recognizes the essential role of critical minerals in various industries, including energy, defense, and technology, and emphasizes the need for a diversified approach to ensure energy independence in the United States. The findings highlight the expected quadrupling of global lithium demand by 2030 and the importance of supporting domestic lithium production to reduce reliance on foreign imports. Additionally, the bill underscores the economic benefits of encouraging lithium recovery in Arkansas, such as attracting investment, creating jobs, and strengthening the state's industrial base.

To facilitate this, the bill mandates a study to evaluate Arkansas's competitiveness in attracting lithium recovery projects and related manufacturing activities. The study will assess various factors, including state and local taxes, regulatory burdens, infrastructure needs, and workforce availability. It aims to identify potential impediments to development and provide recommendations to enhance Arkansas's attractiveness for investment in the lithium sector. The legislative findings and the study's requirements are intended to create an optimal economic ecosystem that supports lithium recovery and related industries in the state.