The bill aims to regulate short-term rentals in Arkansas by prohibiting local governments from enacting ordinances that restrict the use of properties as short-term rental units. It establishes that short-term rentals are essential for tourism and property owners' rights, asserting that Arkansans have a constitutional right to use their property without government interference. The bill defines key terms related to short-term rentals and outlines the conditions under which local governments may impose regulations, such as requiring permits and ensuring that regulations do not effectively prohibit short-term rentals.

Additionally, the bill includes an emergency clause, stating that the current regulatory framework discriminates against short-term rental owners and negatively impacts home values and tourism. It emphasizes the need for immediate action to protect property owners' rights as outlined in the Arkansas Constitution. The bill will take effect upon approval by the Governor or after the expiration of the veto period if not acted upon.