The bill aims to make technical corrections to Title 18 of the Arkansas Code concerning property. It amends Arkansas Code 18-11-110(d) to clarify the criminal offense related to land ownership by prohibited foreign-party-controlled businesses. The amendment specifies that a business entity that violates this section is guilty of an unclassified felony, punishable by up to two years' imprisonment or a fine of $15,000, or both. Additionally, it reenacts definitions in Arkansas Code 18-11-802(8)(B) and (C) regarding "significant interest" and "substantial control" in the context of foreign ownership of agricultural land, correcting reference errors and providing clearer criteria for ownership interests.

Furthermore, the bill includes a section that outlines the legislative intent, ensuring that the enactment of this act does not repeal any acts passed during the regular session of the Ninety-Fifth General Assembly. It clarifies that in case of any conflict between this act and previous legislation, the latter will take precedence, and emphasizes that the changes made are technical rather than substantive.

Statutes affected:
HB 1358: 18-11-110(d)
Act 174: 18-11-110(d)