SB 1050
Creates new provisions relating to digital mining
Sponsor:
LR Number:
3500S.01I
Last Action:
4/9/2024 - Hearing Conducted S Insurance and Banking Committee
Journal Page:
Title:
Effective Date:
August 28, 2024

Current Bill Summary

SB 1050 - This act creates new provisions relating to digital mining. Specifically, the act permits any person to run a node or a series of nodes in this state for the purpose of home digital asset mining at the person's private residence. A person or entity may have a digital asset mining business in any area in this state that is zoned for industrial use. Furthermore, any person engaged in home digital asset mining or digital asset mining business shall not be considered a money transmitter.

A political subdivision shall not:

· Limit the sound decibels generated from home digital asset mining other than limits set for sound pollution generally;

· Impose any requirements on a digital asset mining business that is not also a requirement for data centers in such political subdivision; or

· Rezone the area in which a digital asset mining business is located without complying with applicable state and local zoning laws or rezone any area with the intent or effect of discriminating against any digital asset mining business.

A digital asset mining business is entitled to appeal any change in zoning pursuant to any applicable state or local zoning laws.

The public service commission may set rates that are reflective of cost to serve, but shall not establish a rate schedule for digital asset mining that creates discriminatory rates for digital asset mining businesses.

This act is identical to SCS/SB 536 (2023) and certain provisions in HCS/SB 47 (2023) and substantially similar to provisions in HCS/SS/SCS/SB 100 (2023).

SCOTT SVAGERA

Amendments

No Amendments Found.