The proposed bill aims to establish a new offense known as "Theft of Equipment Rental Services" under Arkansas law. It defines "equipment rental service" as the commercial provision of equipment for rent or lease. The bill outlines specific actions that constitute this offense, including exercising unauthorized control over rented equipment after the lease period has expired or causing damage to such equipment that prevents it from being rented or leased without repair. Additionally, it provides a defense for individuals who compensate the lessor or renter for the value of the rental service and any damage incurred.

The bill categorizes violations of this new offense into different felony classes based on the value of the rental service or damage caused, with penalties ranging from a Class B felony for amounts of $25,000 or more, down to a Class A misdemeanor for amounts of $1,000 or less. Furthermore, it mandates that individuals convicted of this offense must pay restitution to the lessor or renter for the value of the rental service and any damages incurred during the unauthorized period.