The bill aims to amend existing laws regarding energy and specifically addresses coal-powered electrical generation facilities in Arkansas. It introduces a new section to the Arkansas Code that establishes a state energy policy, emphasizing the need for adequate, reliable, affordable, sustainable, and clean energy resources. The policy promotes the development of both nonrenewable and renewable energy resources, nuclear power technologies, and infrastructure to support energy development. Additionally, it encourages energy conservation, efficiency, and education while allowing market forces to guide energy resource utilization.

Furthermore, the bill mandates that project entities provide notice to the Legislative Council at least 180 days before decommissioning or disposing of coal-powered electrical generation facility assets. It also outlines the responsibilities of the Attorney General's Office in defending the state's interests against federal regulations that may lead to forced retirements of electrical generation facilities. A study will be conducted by the Department of Energy and Environment to evaluate the continued operation of existing coal-powered facilities, including environmental regulations and economic opportunities, with a report due by September 2024.