As I live in Arkansas I actually got around to reading the bill (HB 1228)
this morning. Everything people are complaining about is complete FUD. It's really quite mundane... and LOTS of other states already have similar laws on the books. It _basically_ instructs the courts to take into consideration sincerely-held religious convictions in discrimination cases except where there is an impracticality in enforcing the laws without the state encroaching on them.
This does NOT mean that teh gheys will be denied service at restaurants.
It DOES mean that I may be spared legal consequences if I decline to build a gay porn website for somebody and am sued for discrimination.