SB 1062 — legal tender; cryptocurrency

BillSenate Number:Engrossed legal tender;

S.B.cryptocurrency State of Arizona Senate Fifty-seventh Legislature First Regular Session SENATE BILL 1062 AN ACT AMENDING TITLE 1, ARIZONA REVISED STATUTES, BY ADDING CHAPTER 9;

1062AMENDING FinchemSECTIONS Floor6-851, Amendment9-1443, Reference11-1943, to:43-1021, 43-1022, 43-1121 AND 43-1122, ARIZONA REVISED STATUTES;

printedRELATING billTO AmendmentLEGAL draftedTENDER. by:

Molly(TEXT GraverOF FLOORBILL AMENDMENTBEGINS EXPLANATIONON •NEXT RemovesPAGE) digital- currencyi issued- byS.B. a central bank from the definition of cryptocurrency for the purposes of the statutory definition of legal tender.

Amendment1062 explanationBe preparedit enacted by Mollythe Graver 02/24/2025 Fifty-seventh Legislature Finchemof Firstthe RegularState Sessionof S.B.Arizona:

1062 FINCHEM FLOOR AMENDMENT SENATE AMENDMENTS TO S.B.

1062 (Reference to printed bill) Amendment instruction key:

[GREEN UNDERLINING IN BRACKETS] indicates text added to statute or previously enacted session law.

[Green underlining in brackets] indicates text added to new session law or text restoring existing law.

[GREEN STRIKEOUT IN BRACKETS] indicates new text removed from statute or previously enacted session law.

[Green strikeout in brackets] indicates text removed from existing statute, previously enacted session law or new session law.

<<Green carets>> indicate a section added to the bill.

<<Green strikeout in carets>> indicates a section removed from the bill.

The bill as proposed to be amended is reprinted as follows:

"CRYPTOCURRENCY" MEANS ANY FORM OF DIGITAL CURRENCY IN WHICH ENCRYPTION TECHNIQUES ARE USED TO REGULATE THE GENERATION OF UNITS OF CURRENCY AND VERIFY THE TRANSFER OF MONIES, INCLUDING BITCOIN, XRP, ETHEREUM, LITECOIN[,][AND]LITECOIN AND BITCOIN CASHCASH. [AND DIGITAL CURRENCY ISSUED BY A CENTRAL BANK].

Senate2. Amendments to S.B.

1062 2.

6.- 1 - S.B.

1062 6.

-2-9-1443. Senate Amendments to S.B.

1062 9-1443.

2.- 2 - S.B.

1062 2.

-3-B. Senate Amendments to S.B.

1062 B.

D.- 3 - S.B.

1062 D.

The amount by which the depreciation or amortization computed under the internal revenue code with respect to property for which a -4-credit Senatewas Amendmentstaken under section 43-1081.01 or that is pollution control equipment for which a credit was taken before taxable year 2022 exceeds the amount of depreciation or amortization computed pursuant to S.B.the internal revenue code on the Arizona adjusted basis of the property.

1062- credit4 was- takenS.B. under section 43-1081.01 or that is pollution control equipment for which a credit was taken before taxable year 2022 exceeds the amount of depreciation or amortization computed pursuant to the internal revenue code on the Arizona adjusted basis of the property.

1062 8.

-5-(b) Senate"Specie" Amendmentsmeans tocoins S.B.having precious metal content.

1062- (b)5 "Specie"- meansS.B. coins having precious metal content.

1062 15.

8.- 6 - S.B.

The1062 portion8. of any wages or salaries paid or incurred by the taxpayer for the taxable year that is equal to the amount of the federal -6- Senate Amendments to S.B.

1062The portion of any wages or salaries paid or incurred by the taxpayer for the taxable year that is equal to the amount of the federal work opportunity credit, the empowerment zone employment credit, the credit for employer paid social security taxes on employee cash tips and the Indian employment credit that the taxpayer received under sections 45A, 45B, 51(a) and 1396 of the internal revenue code.

17.- 7 - S.B.

1062 17.

(a) In taxable years beginning before December 31, 2012, an amount equal to the depreciation allowable pursuant to section 167(a) of the internal revenue code for the taxable year computed as if the election described in section 168(k) of the internal revenue code had been made for -7-each Senateapplicable Amendmentsclass toof S.B.property in the year the property was placed in service.