The bill amends Arkansas law regarding the oversight of wastewater and sewer collection and treatment providers by introducing a new subchapter titled "Oversight of Wastewater and Sewer Retail Providers." It establishes legislative findings that emphasize the need for improved operations and infrastructure in wastewater and sewer systems, similar to reforms made for retail water providers. The bill outlines definitions for key terms, such as "provider" and "provider's board," and sets forth requirements for providers in fiscal distress, including the necessity of obtaining rate studies and implementing recommended rates to ensure financial sustainability.

Additionally, the bill mandates that providers deposit a minimum of 5% of gross revenues into a dedicated refurbishment and replacement account and outlines the process for identifying and addressing fiscal distress. It requires training for board members of providers and establishes a framework for workforce recruitment and retention. The Arkansas Natural Resources Commission is tasked with promulgating rules to implement these provisions, and the bill specifies that it does not apply to certain entities, such as those regulated by the Arkansas Public Service Commission or individual homeowners.