Bill > SB1024

This bill allows Arizona state agencies to enter into agreements with cryptocurrency service providers to accept cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as payment methods for various financial obligations, including taxes, fines, fees, and special assessments. Under the proposed legislation, these agreements must specify the terms and conditions for accepting or declining cryptocurrency payments, including how the cryptocurrency will be converted to U.S. dollars. State agencies can choose to either absorb the transaction service fees or require the person making the payment to cover these costs. The bill importantly clarifies that the person paying with cryptocurrency remains liable for the full payment, including any interest and penalties, until the state agency receives final and unconditional payment from the cryptocurrency service provider. The legislation defines "cryptocurrency" as a digital currency using encryption techniques to regulate currency generation and transfer, operating independently of a central bank. The bill will become effective on December 31, 2025, giving state agencies and cryptocurrency service providers time to prepare for implementation.

Budget and Finance, Business and Industry

https://apps.azleg.gov/BillStatus/BillOverview/81631