AR SB481

Establishes oversight of retail water providers through the Arkansas Natural Resources Commission, requiring providers to obtain rate studies on staggered schedules (by July 1, 2022-2024, then every 5 years) based on customer size (500 or fewer, 501-1,000, or over 1,000 customers).

Defines "fiscal distress" for providers that fail to obtain/implement rate studies or are found in significant noncompliance by the Department of Health, and requires providers in fiscal distress to file improvement plans within 90 days and obtain commission approval before receiving state financial assistance.

Requires rates to adequately address operation, maintenance, debt service, reserves, depreciation, capital expenses, and annual audits, with recommended increases implemented within one year unless the increase exceeds 50% (then may phase in over two years).

Mandates a majority of provider board members receive minimum 8 hours of training within one year of election/appointment (by December 31, 2020), and requires providers to work on workforce recruitment, retention, and education through partnerships with municipal and county associations.

Exempts water systems regulated by the Arkansas Public Service Commission, municipal utilities providing electric service, privately owned providers serving primarily nonresidential customers, and joint municipal systems across state lines.