The bill aims to make technical corrections to Title 18 of the Arkansas Code concerning property. It specifically amends Arkansas Code 18-11-110(d) to clarify the criminal offense related to land ownership by prohibited foreign-party-controlled businesses. The amendment changes the language to state that a business entity that violates this section is guilty of an unclassified felony, punishable by up to two years' imprisonment or a fine of $15,000, or both.

Additionally, the bill reenacts definitions in Arkansas Code 18-11-802(8)(B) and (C) regarding "significant interest" and "substantial control" in the context of foreign ownership of agricultural land. The reenactment corrects reference errors by changing mentions of "subdivision (5)(A)" to "subdivision (5)" and clarifies the criteria for determining interests held by parties acting in concert or individually. The bill also includes a section outlining the legislative intent, ensuring that it does not repeal any acts passed during the regular session of the Ninety-Fifth General Assembly and that it only makes technical changes to the Arkansas Code.

Statutes affected:
HB 1358: 18-11-110(d)