The proposed bill, known as the "Governing Unaccredited Representatives Defrauding (GUARD) VA Benefits Act," aims to prohibit individuals from receiving compensation for the preparation, presentation, or prosecution of claims related to veterans' benefits, unless such compensation is authorized by federal law. The bill introduces a new subchapter to the Arkansas Code, which outlines the definitions of key terms, including "compensation," "person," and "veterans' benefits matter." It establishes that any person advising or assisting with veterans' benefits claims must adhere to the same ethical standards as attorneys under the Arkansas Rules of Professional Conduct.

Additionally, the bill specifies that individuals cannot receive compensation for referring others to assist with veterans' benefits claims, and violations of this provision are classified as deceptive and unfair trade practices, constituting a Class A misdemeanor under the Deceptive Trade Practices Act. The legislation seeks to protect veterans from unethical practices and ensure that only authorized representatives can charge for their services in relation to veterans' benefits.