The resolution authorizes Senator Irvin to introduce a non-appropriation bill that seeks to amend the Arkansas Data Centers Act of 2023, specifically targeting the regulation of digital asset mining businesses and blockchain network operations. The proposed amendments aim to establish comprehensive guidelines for licensing, permitting, and regulating these businesses, addressing critical issues such as noise emissions, energy consumption, and water usage. The resolution underscores the importance of safeguarding public health and safety while promoting economic growth within the digital asset sector. It also includes operational requirements, such as sound level restrictions and a ban on water cooling for new operations, as well as measures to prevent foreign ownership of these businesses in Arkansas due to security concerns.
Furthermore, the resolution outlines a structured approach for the relevant department to develop initial rules in compliance with the Arkansas Administrative Procedure Act. This process involves studying regulatory practices from other states, consulting with state agencies, and submitting a report to legislative committees for review before proceeding with rule-making, which includes a public comment period and hearings. The resolution emphasizes the urgency of implementing these regulations to address public health, safety, and environmental concerns, declaring an emergency to facilitate immediate action upon approval by the Governor or after the veto period.
Statutes affected: SR 17: 14-1-602(b), 14-1-604(a), 14-1-605(a)