This bill proposes to amend current statutes to allow state agencies in Arizona to accept virtual currency as a payment method for various obligations, including fines, taxes, and fees. Specifically, it introduces provisions that enable state agencies to enter into agreements with virtual currency service providers to facilitate these transactions. The bill defines "virtual currency" and "stablecoin," clarifying that virtual currency does not include legal tender issued by the U.S. or foreign governments. Additionally, it outlines the responsibilities of both the state agency and the payer regarding transaction fees and liabilities until the payment is fully processed.

The bill also updates existing tax payment methods by allowing the Arizona Department of Revenue (ADOR) to accept virtual currency for tax remittances, provided an agreement with a virtual currency service provider is established. This change is intended to modernize payment options for taxpayers and streamline the collection process. The effective date for these changes is set for January 1, 2027, ensuring that the necessary infrastructure and agreements can be established prior to implementation.

Statutes affected:
Introduced Version: 35-156, 42-5018, 43-505
Senate Engrossed Version: 35-156, 42-5018, 43-505, 119-27