The proposed bill would amend current statutes to prohibit cities and counties from imposing taxes or fees on individuals or entities running a node on blockchain technology in their residences, with the exception of taxes levied on electricity. This change is aimed at clarifying that the regulation of such activities is a matter of statewide concern, thereby preempting local regulations. The bill would insert new language to explicitly state that both the act of running a node and the imposition of taxes or fees related to it are not subject to further regulation by local governments.

Additionally, the bill would make technical and conforming changes to existing statutes, including the definitions of "blockchain technology" and "running a node on blockchain technology," ensuring they align with the definitions provided in other relevant sections of the Arizona Revised Statutes. The overall intent of the bill is to create a consistent regulatory framework for blockchain technology at the state level, while preventing local governments from imposing additional restrictions or fees.

Statutes affected:
Introduced Version: 9-500.42, 11-269.22, 42-6012, 44-7061
Senate Engrossed Version: 9-500.42, 11-269.22, 42-6012, 44-7061