This bill proposes the establishment of the Arizona Bullion Depository, which would serve as a secure location for storing bullion and specie, allowing residents to deposit these assets for electronic use. The state treasurer would administer the depository and may contract with third parties to manage its operations, ensuring compliance with state and federal financial laws. The bill also introduces definitions for key terms such as "bullion," "electronic payment system," and "legal tender," and recognizes gold and silver as legal tender for private debts and state obligations, provided there is mutual agreement.

Additionally, the bill mandates that deposits in the depository be insured for their full replacement value and requires the state treasurer to submit an annual report detailing the depository's status, operations, and the economic impact of recognizing gold and silver as legal tender. It also includes provisions to prevent the use of residents' information in social credit scoring systems and outlines rules to ensure the security of transactions and data related to the depository. Overall, the bill aims to modernize the legal framework surrounding bullion and specie in Arizona, facilitating their use as a form of currency.