HR1009
To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Pay A Fee For Extraordinary Electrical Energy Usage And To Implement Oversight Procedures.
Last Action (April 8, 2026): Read the first time, rules suspended, read the second time and referred to the Committee on HOUSE RULES
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AI-Generated Summary
This bill proposes the creation of a regulatory framework and fee structure for digital asset mining businesses operating in Arkansas. It mandates that these businesses pay annual fees to the Department of Energy and Environment based on their monthly megawatt electrical energy consumption, with higher usage tiers resulting in higher costs. The bill requires businesses to submit energy usage estimates, maintain accurate records, and report actual consumption to the state. Revenue generated from these fees will be divided between the State Securities Department, the Office of the Attorney General, and the Department of Energy and Environment to fund monitoring and oversight activities. The legislation also establishes penalties, including criminal charges, for businesses that provide false information regarding their energy consumption. Finally, it directs the relevant departments to promulgate rules to enforce these new requirements by early 2027.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are state government agencies, including the Department of Energy and Environment, the State Securities Department, and the Office of the Attorney General. These entities will receive dedicated funding for personnel, operations, and regulatory oversight of the digital asset mining industry. Additionally, the state government as a whole may benefit from the increased tax revenue and the enhanced ability to monitor industry participants for fraud, illegal activities, and energy usage concerns.
Who Might Suffer?
The primary groups negatively impacted are digital asset mining businesses and other entities utilizing blockchain networks that require high levels of electrical energy. These businesses will face significant new operating costs due to the implementation of the extraordinary energy usage fee. Furthermore, they will incur increased administrative burdens related to reporting, documentation, and compliance, as well as the risk of facing heavy financial penalties or criminal prosecution if they fail to report their energy usage accurately.
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