The proposed legislation authorizes the Arkansas Natural Resources Commission to issue general obligation bonds to finance and refinance projects related to water management, waste disposal, pollution control, and irrigation, with a total principal amount capped at $500 million. Of this, $165 million is specifically allocated for irrigation facilities, and the issuance of bonds is limited to a maximum of $60 million in any two-year period. The bill mandates that the bond issuance question be presented to voters during the 2026 general election or a special election, ensuring public oversight in the decision-making process.

Additionally, the bill establishes the "Arkansas Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2025," which outlines the procedures for bond issuance, including the requirement for the Arkansas Natural Resources Commission to submit a written plan to the Governor for approval. The legislation emphasizes the creation of a trust fund within the State Treasury to manage bond proceeds and ensures that the state's full faith and credit are pledged for repayment. It also includes provisions for the bonds to be exempt from state, county, and municipal taxes, thereby enhancing their attractiveness for public fund investments. If approved by voters, the commission will proceed with the bond issuance; if not, the bonds will not be issued, and the subchapter will have no further effect.