The proposed bill aims to establish a new offense known as "Theft of Equipment Rental Services" under Arkansas law. It introduces a new section, 5-36-127, which defines "equipment rental services" as the commercial provision of equipment for rent or lease. The bill outlines specific actions that constitute the offense, including exercising unauthorized control over rented equipment after the lease period, causing damage to the equipment, or failing to pay for the rental period. Additionally, it 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 theft or damage, 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. Furthermore, it mandates that individuals convicted of this offense must pay restitution to the lessor for the value of the rental service and any damages incurred during the rental period. This legislation seeks to protect equipment rental businesses by establishing clear legal consequences for theft and damage to rented equipment.