The proposed bill aims to enhance transparency and accountability for public utilities in Arkansas by requiring certain utilities to report their financial activities to the Legislative Council. The General Assembly recognizes the economic challenges faced by residents due to rising utility costs and emphasizes the need for public utilities to manage ratepayer funds responsibly. The bill includes legislative findings that highlight the increasing rates for electricity and natural gas, as well as the necessity for public utilities to operate transparently under the Freedom of Information Act.

To implement these goals, the bill introduces a new subchapter in the Arkansas Code that mandates public utilities with over 3,000 ratepayers to submit annual reports detailing various expenses. These reports must include information on political influence activities, advertising, charitable contributions, and employee compensation related to these activities. The bill specifies the types of expenses that must be reported, including payments to vendors, trade associations, and public utility affiliates, as well as detailed employee compensation data. This comprehensive reporting requirement is designed to ensure that public utilities are held accountable for their financial practices and that ratepayers are informed about how their funds are being utilized.