The bill amends Arkansas law regarding hunting and fishing licenses by introducing a new section that mandates reimbursement to the Arkansas State Game and Fish Commission for any lost revenue resulting from the issuance of free or discounted licenses. The General Assembly recognizes the importance of revenue from these licenses for funding conservation efforts and aims to mitigate the negative financial impact that free or discounted licenses can have on the agency's budget. The new section outlines the commission's responsibility to maintain an accounting of lost revenue and submit this information to the Department of Finance and Administration for reimbursement from the General Revenue Fund.

Specifically, the bill requires that the commission be reimbursed for lost revenue from free or partially discounted licenses issued after the effective date of the act, as well as from any exemptions to licensure requirements created by statute. The Department of Finance and Administration is tasked with depositing the reimbursed funds into the Game Protection Fund within thirty days of receiving the commission's accounting. Additionally, the accounting records will be subject to audit by the Treasurer of State, ensuring transparency and accountability in the reimbursement process.