The proposed bill seeks to modernize Arizona's property forfeiture statutes by specifically addressing digital assets. Under existing law, property can be forfeited if linked to a criminal offense, but the bill introduces new provisions allowing courts to forfeit digital assets owned by convicted individuals that were used in or acquired through criminal activities. It also establishes new procedures for the sale of these seized digital assets and mandates that the first $300,000 from such sales be allocated to the Anti-Racketeering Revolving Fund. Additionally, the bill creates the Bitcoin and Digital Assets Reserve Fund, managed by the State Treasurer, which will securely store and allocate digital assets. It authorizes the State Treasurer to invest Fund monies in digital assets and requires secure storage of seized digital assets in a digital wallet system. The bill also makes technical and conforming changes to existing laws to ensure transparency and security in the management and sale of digital assets, while updating definitions and criteria related to property forfeiture to reflect the evolving digital landscape.

Statutes affected:
Introduced Version: 44-337
House Engrossed Version: 13-4301, 13-4304, 13-4305, 13-4315, 41-180, 47-9102, 13-105, 13-3413, 13-3401, 13-2314, 13-3911, 13-3912, 13-3913, 13-3914, 13-3915, 13-4313, 13-2314.01, 13-2314.03, 13-4310
Senate Engrossed Version: 13-4301, 13-4304, 13-4305, 13-4315, 41-180, 47-9102, 13-105, 13-3413, 13-3401, 13-2314, 13-3911, 13-3912, 13-3913, 13-3914, 13-3915, 13-4313, 13-2314.01, 13-2314.03, 13-4310