The bill amends the existing law regarding agricultural funding in Arkansas, specifically focusing on the fair-funding program. It replaces the term "fair-funding program" with "Funding for livestock shows and fairs" and introduces new requirements for districts. The Department of Agriculture is tasked with providing financial assistance to livestock shows and fairs, with stipulations that future funding will not be distributed until all requirements are met. Recipients of this financial assistance must submit annual financial reports, operating plans, and a certificate of good standing, and they are subject to audits by the Arkansas Legislative Audit.

Additionally, the bill specifies that state funding cannot be used for association fees or related expenses, and it establishes a role for county extension agents on county fair boards. It also outlines the membership of various counties in specific districts and clarifies that the Four States Fair in Texarkana will be treated as a district fair for funding purposes. The bill aims to enhance accountability and ensure proper utilization of state funds in supporting agricultural fairs and livestock shows.