The proposed bill aims to prohibit any loan or financing agreements related to the sale of dogs or cats, thereby regulating the sale of these animals more strictly. It introduces a new section to the Arkansas Code, specifically 14-1-108, which defines key terms such as "legislative body," "local government," "ordinance," and "person." The bill explicitly states that no individual or entity may offer or facilitate a loan or financing agreement for the purchase of a dog or cat. However, it allows local legislative bodies to enact ordinances that regulate the sale of these animals.

Additionally, the bill establishes penalties for violations, categorizing any breach of this prohibition as a Class A misdemeanor. This legislative change is intended to enhance the welfare of pets by preventing financial arrangements that may lead to irresponsible ownership or breeding practices. Overall, the bill seeks to create a more controlled environment for the sale of dogs and cats, ensuring that such transactions are conducted responsibly and ethically.