If enacted, this bill would amend current Arizona statutes to explicitly prohibit federally recognized central bank digital currency (CBDC) from being used as legal tender or as a medium of payment for any contracts, securities, or similar instruments within the state. The bill introduces new definitions for "legal tender" and "specie," clarifying that legal tender excludes CBDC and that specie refers to coins with precious metal content. Additionally, it specifies that transfers related to contracts cannot be settled with CBDC, thereby reinforcing the exclusion of CBDC from the state's financial transactions.

The bill also makes several technical amendments to existing statutes, including updates to the definitions of "money" and "legal tender" to align with the new provisions. It removes outdated language regarding the definitions of legal tender and specie, ensuring that all references to these terms in Arizona Revised Statutes reflect the new definitions. Overall, the bill aims to establish a clear legal framework that excludes CBDC from Arizona's financial and commercial practices.

Statutes affected:
Introduced Version: 6-843, 6-851, 9-1443, 11-1943, 43-1021, 43-1022, 43-1121, 43-1122, 47-1201, 100-86, 6-852, 1-901, 9-1442, 11-1942, 43-1333, 99-514, 43-1084, 43-1081.01, 43-1074.02, 43-1029, 15-1871, 43-1024, 101-336, 43-1014, 43-1082, 43-1023, 15-1628, 15-1451, 43-1025, 43-1027, 111-5, 111-92, 41-1518, 43-1042, 20-1691, 43-1028, 6-101, 43-961, 43-1129, 43-1130, 43-1201, 43-947, 43-1170, 43-1130.01, 43-1175, 43-1178, 43-1183, 43-1184, 43-1124, 43-1181, 43-1165, 43-1123, 43-1127
Senate Engrossed Version: 6-843, 6-851, 9-1443, 11-1943, 43-1021, 43-1022, 43-1121, 43-1122, 47-1201, 100-86, 6-852, 1-901, 9-1442, 11-1942, 43-1333, 99-514, 43-1084, 43-1081.01, 43-1074.02, 43-1029, 15-1871, 43-1024, 101-336, 43-1014, 43-1082, 43-1023, 15-1628, 15-1451, 43-1025, 43-1027, 111-5, 111-92, 41-1518, 43-1042, 20-1691, 43-1028, 6-101, 43-961, 43-1129, 43-1130, 43-1201, 43-947, 43-1170, 43-1130.01, 43-1175, 43-1178, 43-1183, 43-1184, 43-1124, 43-1181, 43-1165, 43-1123, 43-1127