Arizona SCR1003 proposes a constitutional amendment to exempt virtual currency from property tax.

Arizona SCR1003 proposes an amendment to the Arizona Constitution to exempt virtual currency from property tax. Virtual currency is defined as a digital representation of value that functions as a medium of exchange, a unit of account, and a store of value, but is not a representation of the United States dollar or a foreign currency. If approved by voters and the Governor, this amendment would alter Article IX, Section 2 of the Arizona Constitution. The Secretary of State would then present this amendment to voters at the next general election.

Arizona SCR1003 proposes a constitutional amendment to exempt virtual currency from property tax.

Arizona SCR1003 proposes an amendment to the Arizona Constitution to exempt virtual currency from property tax. Virtual currency is defined as a digital representation of value that functions as a medium of exchange, a unit of account, and a store of value, but is not a representation of the United States dollar or a foreign currency. If approved by voters and the Governor, this amendment would alter Article IX, Section 2 of the Arizona Constitution. The Secretary of State would then present this amendment to voters at the next general election.