Arizona HB2088 establishes legal tender rules and tax provisions for specie and legal tender exchanges.

Arizona HB2088 amends the Arizona Revised Statutes to define legal tender, including specie, and establish rules for its use and taxation. Specie is defined as coin or refined bullion meeting specific purity standards. Legal tender includes specie, federal reserve notes, and other authorized mediums of exchange. The bill exempts exchanges of legal tender from state taxes and mandates that taxes related to such exchanges be paid in legal tender. It also prohibits compelled use of specie and mandates education and incentives for its voluntary adoption.

Arizona HB2088 establishes legal tender rules and tax provisions for specie and legal tender exchanges.

Arizona HB2088 amends the Arizona Revised Statutes to define legal tender, including specie, and establish rules for its use and taxation. Specie is defined as coin or refined bullion meeting specific purity standards. Legal tender includes specie, federal reserve notes, and other authorized mediums of exchange. The bill exempts exchanges of legal tender from state taxes and mandates that taxes related to such exchanges be paid in legal tender. It also prohibits compelled use of specie and mandates education and incentives for its voluntary adoption.