The bill modifies the Self-Insured Fidelity Bond Program for certain participating governmental entities in Arkansas. It introduces a new section, 21-2-712, which states that any participating governmental entity in the program is considered to have met all other statutory bond requirements under state law. This change aims to clarify the bond coverage for these entities and address concerns regarding potential fraud, theft, and malfeasance by public employees and officials.

Additionally, the bill includes an emergency clause, emphasizing the immediate need for clarity in the bond requirements due to previous legislative changes that created uncertainty. The act is deemed necessary for the preservation of public peace, health, and safety, and it will take effect upon approval by the Governor or after the expiration of the veto period if not acted upon.