AR SB386

Adds comprehensive oversight of retail water providers under Arkansas Natural Resources Commission, establishing requirements for rate studies, fiscal management, and workforce training to ensure sustainable water service delivery.

Requires providers to conduct rate studies on staggered timelines (by July 1, 2024-2026, then every 5 years) based on customer size, with rates addressing operation, maintenance, debt service, reserves, depreciation, and capital expenses; providers must implement recommended rates within one year or phase in increases over two years if rates increase 50% or more.

Mandates providers deposit minimum 5% of gross revenues annually into dedicated refurbishment and replacement accounts and establishes fiscal distress criteria including failure to obtain/implement rate studies or significant commission noncompliance; providers in fiscal distress cannot receive state financial assistance without an approved improvement plan.

Requires majority of provider board members to complete minimum 8 hours of training within one year of election/appointment (by December 31, 2022 for existing members as of January 1, 2021) and establishes advisory training board with representatives from state agencies, water associations, and legislative committees.

Allows commission to require municipal providers unable or unwilling to serve nonresident property owners to release them to willing providers; creates nonvoting advisory committees for municipal providers serving 20% or more nonresident customers in unincorporated areas.