Arkansas Senate Bill SR15

Arkansas 2024 Regular Session

• Introduced: 4/10/24
• Passed: 4/11/24

Caption

To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Provide Notification Before Purchasing Land Or A Building Or Beginning Construction Of A Digital Asset Mining Facility.

Impact

If SR15 is enacted, it would directly impact the regulatory landscape for digital asset mining in Arkansas. The requirement for advance notification is intended to provide local governments with the ability to assess and prepare for the implications of new digital mining operations, which may entail substantial energy and resource usage. This advance notice is crucial for local communities, allowing them to consider infrastructure needs, zoning regulations, and environmental impacts related to such facilities.

Summary

Senate Resolution 15 (SR15) proposes an amendment to the Arkansas Data Centers Act of 2023, specifically targeting digital asset mining operations. The resolution requires that any digital asset miner or mining business must notify the Arkansas Public Service Commission and the local government at least six months prior to purchasing, leasing, or beginning construction on facilities intended for digital asset mining. This legislation aims to bring oversight and transparency to the rapidly growing digital mining sector, ensuring that local authorities are informed about potential large-scale operations in their jurisdictions.

Contention

Points of debate surrounding SR15 may arise concerning business freedom and local governance. Proponents argue that the bill will help protect local interests and maintain community standards, particularly as the digital asset sector grows. However, opponents may contend that such regulations could deter investments and slow down the development of the local economy by imposing additional hurdles for businesses looking to establish digital mining operations. The resolution's requirement for advanced notification might create logistical challenges for businesses that seek to rapidly expand or adapt to market conditions.

Summary_recommendation

Overall, SR15 reflects a proactive approach to regulating digital asset mining activities in Arkansas, aiming to balance economic development with community awareness and involvement. As the bill progresses through the legislative process, it will be essential to address concerns from both advocates for regulatory oversight and those advocating for a more unencumbered business environment.