The proposed bill aims to prohibit local governments in Arkansas from enacting or enforcing regulations that restrict the use of properties as short-term rentals. It establishes that property owners have a constitutional right to utilize their properties without government interference, emphasizing the importance of short-term rentals for tourism and the state's economy. The bill includes definitions for key terms such as "short-term rental," "local government," and "effectively prohibit," and outlines the conditions under which local governments may impose certain requirements, such as registration fees not exceeding $50, while ensuring these do not limit the use of properties as short-term rentals.

Additionally, the bill allows local governments to enforce ordinances that may suspend an applicant's ability to operate a short-term rental under specific circumstances, such as repeated violations of local ordinances or serious infractions resulting in injury or death. It also mandates that short-term rentals be classified as residential land use for zoning purposes and prohibits local governments from regulating short-term rental marketplaces. Overall, the legislation seeks to protect property owners' rights while maintaining some level of oversight for safety and compliance.