This bill proposes to amend the Arizona Revised Statutes by adding a new section, 42-11134, which would exempt virtual currency from property taxation. The bill defines "virtual currency" as a digital representation of value that serves as a medium of exchange, unit of account, and store of value, distinct from traditional currencies like the U.S. dollar or foreign currencies.

Additionally, the bill stipulates that its provisions will only take effect if the Arizona Constitution is amended through a public vote at the next general election, contingent upon the passage of a specific Senate Concurrent Resolution related to property tax exemptions. Current statutes remain unchanged, with no deletions from existing law.

Statutes affected:
Introduced Version: 42-11134