Bill Text: AZ SB1128 | 2022 | Fifty-fifth Legislature 2nd Regular | Introduced
Bill Title: Virtual currency; property tax exemption
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2022-01-12 - Senate read second time [SB1128 Detail]
Download: Arizona-2022-SB1128-Introduced.html
|
REFERENCE TITLE: virtual currency; property tax exemption |
|
State of Arizona Senate Fifty-fifth Legislature Second Regular Session 2022
|
|
SB 1128 |
|
|
|
Introduced by Senator Rogers
|
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, other than a representation of the United States dollar or a foreign currency, that functions as a unit of account, a store of value or a medium of exchange.
Sec. 2. Conditional enactment
This act does not become effective unless the Constitution of Arizona is amended by vote of the people at the next general election to exempt virtual currency from property tax.
