To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023; And To Regulate The Impact On Water Usage And The Electric Grid By Blockchain Networks And Digital Asset Mining.
Impact
HR1017 aims to implement stricter monitoring and regulation on water and energy resources affected by blockchain and digital asset mining activities in Arkansas. The bill emphasizes the importance of maintaining the viability of water supply and electric grid resources as these activities can have significant environmental and infrastructural impacts. By introducing regulations that require monitoring, the state aims to protect critical resources while accommodating the growth of the blockchain industry, which has been increasingly scrutinized for its resource-intensive nature.
Summary
House Resolution 1017 (HR1017) seeks to amend the Arkansas Data Centers Act of 2023 by addressing the impact of blockchain networks and digital asset mining on water usage and the state's electric grid. This resolution authorizes the introduction of a non-appropriation bill that empowers the Arkansas Natural Resources Commission to monitor and potentially regulate the water usage associated with these operations. Should excessive water usage be identified, the commission would have the authority to close down the blockchain networks or digital asset mining operations. Additionally, the Arkansas Public Service Commission is tasked with overseeing the implications of these operations on the electric grid, allowing it to halt service if necessary to ensure grid reliability.
Contention
There are notable points of contention surrounding HR1017, primarily concerning the balance between fostering technological innovation and protecting essential natural resources. Proponents of the bill argue that it is necessary to create regulations that safeguard water and electric resources in light of potential over-consumption by digital asset operations. Critics, on the other hand, may raise concerns regarding the implications for the blockchain industry's growth in Arkansas, fearing that excessive regulation may drive these operations to less regulated states. This discussion reflects a broader debate about the sustainability of emerging technologies and their environmental stewardship.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023; And To Regulate The Impact On Water Usage And The Electric Grid By Blockchain Networks And Digital Asset Mining.
To Amend The Arkansas Data Centers Act Of 2023; And To Regulate The Impact On Water Usage And The Electric Grid By Blockchain Networks And Digital Asset Mining.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Requirements For A Digital Asset Mining Business Or Business Using A Blockchain Network.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Requirements For A Digital Asset Mining Business Or Business Using A Blockchain Network.
To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Pay A Fee For Extraordinary Electrical Energy Usage.
To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Pay A Fee For Extraordinary Electrical Energy Usage.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Prohibit Foreign-party-controlled Ownership Of A Digital Asset Mining Business.
Requesting The Department Of Commerce And Consumer Affairs To Create A Task Force To Study The Approval Of Blockchain Technology And Cryptocurrency In The State.