The bill aims to make technical corrections to Title 18 of the Arkansas Code concerning property. It amends Arkansas Code 18-11-110(d) to clarify that a prohibited foreign-party-controlled 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, it 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, correcting reference errors to ensure clarity in the law.

Furthermore, the bill includes a section that outlines the legislative intent, stating that the enactment of this act does not repeal any acts passed during the regular session of the Ninety-Fifth General Assembly. It clarifies that in case of any conflict between this act and previous legislation, the latter will take precedence, ensuring that the act only makes technical, non-substantive changes to the Arkansas Code of 1987.

Statutes affected:
HB 1358: 18-11-110(d)
Act 174: 18-11-110(d)