Bill Text: AZ SB1025 | 2025 | Fifty-seventh Legislature 1st Regular | Introduced
Bill Title: Public monies; investment; virtual currency
Spectrum: Partisan Bill (Republican 2-0)
Status: (N/A) 2024-12-16 - Prefile [SB1025 Detail]
Download: Arizona-2025-SB1025-Introduced.html
PREFILED DEC 16 2024
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REFERENCE TITLE: public monies; investment; virtual currency |
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State of Arizona Senate Fifty-seventh Legislature First Regular Session 2025
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SB 1025 |
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Introduced by Senator Rogers: Representative Weninger
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An Act
amending title 35, chapter 2, Arizona Revised Statutes, by adding article 2.2; relating to management of public monies.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 35, chapter 2, Arizona Revised Statutes, is amended by adding article 2.2, to read:
ARTICLE 2.2. STRATEGIC BITCOIN RESERVE
35-331. Public monies; investment; virtual currency; reserves; definitions
A. In addition to the investment authority in articles 2 and 2.1 of this chapter, a public fund may invest not more than ten percent of the public monies under its control in virtual currency holdings.
B. If the United States secretary of the treasury establishes a strategic bitcoin reserve for the storage of government bitcoin holdings, a public fund may store the virtual currency holdings of the public fund in a secure SEGREGATED account within the strategic bitcoin reserve.
C. for the purposes of this section:
1. "Public fund" means the state treasurer or a retirement system.
2. "Retirement system" means a retirement plan or system that is established by or pursuant to title 38.
3. "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. Short title
This act may be cited as the "Arizona Strategic Bitcoin Reserve Act."
