The bill proposes technical corrections and significant amendments to the Arkansas Code, particularly focusing on public utilities, regulated industries, and the Arkansas Comprehensive Health Insurance Pool. Key amendments include grammatical corrections in Arkansas Code 23-3-117(a)(2)(C)(i) by changing "Specify" to "Shall specify" and clarifying refund procedures in Arkansas Code 23-55-611(b) by inserting "all money received for transmission." The bill also repeals outdated provisions in Arkansas Code 23-61-503(b) and 23-63-1801(4)(B), as well as the entire Title 23, Chapter 79, Subchapter 5, which expired in 2016, to streamline the legal framework.

In addition to these corrections, the bill significantly alters the assessment and eligibility processes for the Arkansas Comprehensive Health Insurance Pool. It removes various provisions related to claims costs and the assessment authority, including the ability for insurers to petition for assessment deferment. The bill clarifies eligibility requirements for coverage, eliminating the need for evidence of previous creditable coverage and ensuring that coverage issued will not have preexisting condition exclusions. It also outlines the cessation of operations for the pool, mandating a transition to the individual health insurance market by January 1, 2014, while protecting the confidentiality of applicants and covered persons. Overall, the bill aims to enhance the efficiency and effectiveness of the Arkansas Comprehensive Health Insurance Pool and ensure compliance with federal regulations.

Statutes affected:
HB 1361: 23-3-117(a), 23-55-611(b), 23-55-702(a), 23-55-702(b), 23-55-701(a), 23-61-503(b), 23-63-1801(4)
Act 177: 23-3-117(a), 23-55-611(b), 23-55-702(a), 23-55-702(b), 23-55-701(a), 23-61-503(b), 23-63-1801(4)