Adopted

COMMITTEE AMENDMENT NO 1 PROPOSED TO

Senate Bill No. 2603

BY: Committee

     Amend by striking all after the enacting clause and inserting in lieu thereof the following:

SECTION 1. Title and definitions.  (1)  This article shall be known and may be cited as the "Mississippi Digital Asset Mining Act."

(2)  The Mississippi Legislature finds the following:

          (a)  Digital asset mining has created thousands of jobs and provided billions of dollars worth of positive economic value for individuals and companies throughout the United States;

          (b)  Digital asset mining has grown significantly in the United States since the ban of digital asset mining in China;

          (c)  Digital asset mining has often faced regulatory challenges at the state and local level;

          (d)  The State of Mississippi wants to explore the potential for digital asset mining in our state, protect the right of individuals and businesses to mine digital assets in our state and provide legal certainty for the digital asset mining industry.

SECTION 2. Digital asset mining protection.  (1)  As used in this article, the following words and phrases have the meanings ascribed herein, unless the context clearly indicates otherwise:

          (a)  "Blockchain" means a small group of decentralized computers working together to agree upon information.

          (b)  "Digital asset mining" means the use of electricity to power a computer for the purpose of securing a blockchain network.

          (c)  "Home asset digital mining" means the mining of digital assets in areas zoned for residential use.

          (d)  "Node" means a computational device which contains a copy of a blockchain ledger.

          (e)  "Digital asset mining business" means a group of computers working at a single site for the purpose of generating digital assets by securing a blockchain network.

     (2)  It shall be legal in the State of Mississippi to operate a digital asset mining business in an area zoned for industrial use.

     (3)  No political subdivision of this state shall place any specific additional limit on sound decibels generated by home digital asset mining beyond the current limit set forth for other forms of sound pollution by such political subdivision.

     (4)  No political subdivision of this state shall modify the zoning of a digital asset mining business without the proper notice and comment procedures.  A digital asset mining business whose zoning is changed shall have the right to appeal that change in the circuit court of the county in which the business is located, pursuant to Section 11-51-75.

     SECTION 3.  This act shall take effect and be in force from and after July 1, 2023.

     Further, amend by striking the title in its entirety and inserting in lieu thereof the following:

     AN ACT TO CREATE THE MISSISSIPPI DIGITAL ASSET MINING ACT; TO PROVIDE LEGISLATIVE FINDINGS; TO DEFINE CERTAIN TERMS RELATING TO DIGITAL ASSETS; TO AUTHORIZE THE OPERATION OF A DIGITAL ASSET MINING BUSINESS IN AN AREA ZONED FOR INDUSTRIAL USE; TO PROVIDE CERTAIN PROHIBITIONS RELATING TO DIGITAL ASSETS FOR POLITICAL SUBDIVISIONS OF THE STATE; AND FOR RELATED PURPOSES.