The proposed bill aims to establish a new offense known as "Theft of Equipment Rental Services" under Arkansas law. It defines "equipment rental services" as the commercial provision of equipment for rent or lease and outlines specific actions that constitute the offense. These actions include exercising unauthorized control over rented equipment after the lease period, causing damage to the equipment, or failing to pay for the rental period. The bill also provides a defense for individuals who compensate the lessor for the value of the rental service and any damage incurred.

The bill categorizes violations based on the value of the rental service or damage caused, 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 mandates that individuals convicted of this offense must pay restitution to the lessor for the value of the rental service and any damages. This legislation seeks to protect equipment rental businesses by creating legal repercussions for those who exploit rental agreements.