The bill amends Arkansas law regarding the oversight of 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 within specified timeframes.

Additionally, the bill mandates that providers deposit a minimum of five percent of gross revenues into a dedicated refurbishment and replacement account and outlines the process for conducting rate studies. It also requires training for members of a provider's board and establishes a framework for the Arkansas Natural Resources Commission to oversee these processes, including maintaining a list of providers in fiscal distress and approving improvement plans. The bill aims to ensure fiscal soundness and compliance with operational standards while promoting workforce recruitment and retention in the sector.