The bill, known as "The Preserving Lawful Utilization of Services for Veterans Act," enacts R.S. 29:296, which establishes regulations regarding compensation for services provided to veterans. It defines key terms such as "compensation," "person," and "veterans' benefits matter," and prohibits individuals from receiving compensation for referring veterans to others for assistance with benefits claims, particularly during a one-year period following active-duty release or for pension benefits. Additionally, it mandates that any compensation for advising or assisting veterans must be contingent on an increase in benefits awarded, with specific limits on the amount that can be charged.

The bill also requires clear disclosures to be made to individuals seeking assistance, stating that the service provider is not affiliated with the Department of Veterans Affairs and that free services may be available elsewhere. It outlines the obligations of businesses assisting veterans, including restrictions on using international call centers and gaining access to personal information. Violations of these provisions are classified as unfair trade practices, and entities must report specific data to the Department of Veterans Affairs annually. The act will take effect upon the governor's signature or after the designated period for bills to become law without signature.