Bill Text: AZ SB1026 | 2025 | Fifty-seventh Legislature 1st Regular | Introduced

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Bill Title: Virtual currency; property tax exemption

Spectrum: Partisan Bill (Republican 2-0)

Status: (N/A) 2024-12-16 - Prefile [SB1026 Detail]

Download: Arizona-2025-SB1026-Introduced.html

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PREFILED    DEC 16 2024

REFERENCE TITLE: virtual currency; property tax exemption

 

 

 

 

State of Arizona

Senate

Fifty-seventh Legislature

First Regular Session

2025

 

 

 

SB 1026

 

Introduced by

Senator Rogers:  Representative Weninger

 

 

 

 

 

 

 

 

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:

START_STATUTE42-11134. 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. END_STATUTE

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.