The bill aims to amend existing laws concerning natural resources by conducting a comprehensive study related to critical minerals, particularly focusing on lithium recovery in Arkansas. The General Assembly recognizes the importance of critical minerals for various industries, including energy, defense, and technology, and emphasizes the need for a diversified approach to ensure energy independence. The findings highlight the expected quadrupling of global lithium demand by 2030 and the necessity for Arkansas to enhance its domestic lithium production to reduce reliance on foreign imports. The bill also points out that reducing regulatory and statutory barriers will create a favorable economic environment for lithium recovery and related industries.

To facilitate this, the bill mandates a study to evaluate Arkansas's competitiveness in attracting lithium recovery projects and associated manufacturing activities. This study will assess various factors, including state and local taxes, permit fees, and infrastructure needs, while also examining workforce availability and training programs. The goal is to identify impediments to development and provide recommendations to improve Arkansas's attractiveness for investment in the lithium sector, thereby fostering economic growth and job creation in the state.