The bill amends Arkansas law regarding municipal planning by allowing municipalities to contract with property owners located outside their boundaries for municipal services under specific conditions. It introduces new sections to the Arkansas Code, specifically 14-56-427 and 14-56-428. Under section 14-56-427, municipalities can enter agreements with property owners to provide services if the owners agree to comply with municipal development regulations. Additionally, municipalities are not required to obtain county approval for these regulations to apply. The agreements will also be binding on any future owners of the property.

Section 14-56-428 allows municipalities to enter into agreements with property owners for services contingent upon the property owner's voluntary annexation into the municipality when the property becomes contiguous. The bill stipulates that any prerequisites for annexation must be clearly defined in the agreement, and failure to do so prevents the municipality from enforcing annexation requirements for service provision. If the property owner does not file for annexation within one year of the property becoming contiguous, the municipality can initiate annexation proceedings.