The proposed bill aims to establish the offense of "Theft of Equipment Rental Services" in Arkansas by adding a new section to the Arkansas Code. This section defines "equipment rental service" as the commercial provision of equipment for rent or lease and outlines specific actions that constitute theft, such as exercising unauthorized control over rented equipment after the lease period has expired or causing damage to the equipment that prevents it from being rented again without repair.

The bill categorizes violations based on the value of the rental service or damage incurred, with penalties ranging from a Class A misdemeanor for amounts up to $1,000 to a Class B felony for amounts of $25,000 or more. Additionally, it includes provisions for restitution, requiring convicted individuals to compensate the lessor or renter for the value of the rental service and any damage to the equipment.