PREFILED DEC 16 2024
REFERENCE TITLE: virtual currency; property tax exemption |
State of Arizona Senate Fifty-seventh Legislature First Regular Session 2025
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SB 1026 |
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Introduced by Senator Rogers: Representative Weninger
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An Act
amending title 42, chapter 11, article 3, Arizona Revised Statutes, by adding section 42-11134; relating to property tax exemptions.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 42, chapter 11, article 3, Arizona Revised Statutes, is amended by adding section 42-11134, to read:
42-11134. Exemption for virtual currency; definition
A. Virtual currency is exempt from taxation.
B. For the purposes of this section, "virtual currency" means a digital representation of value that functions as a medium of exchange, a unit of account and a store of value other than a representation of the United States dollar or a foreign currency.
Sec. 2. Conditional enactment
This act does not become effective unless the Constitution of Arizona is amended by a vote of the people at the next general election by passage of Senate Concurrent Resolution ____, fifty-seventh legislature, first regular session, relating to property tax exemptions.