Arizona Legislature Advances Proposal to Exempt Crypto Assets from Property Tax
ChainCatcher reported that the Arizona Senate Finance Committee has passed the SB 1044 bill and SCR 1003 joint resolution by a vote of 4 to 3. This series of proposals, introduced by Wendy Rogers, aims to exempt virtual currencies from property taxes. If approved, SCR 1003 will allow voters in November to decide whether to amend the state constitution to formally establish this tax exemption policy.
The SB 1044 bill proposes to amend state law to define virtual currency, describing it as a digital representation used as a medium of exchange, a unit of account, and a store of value, which is neither the US dollar nor foreign currency. Although Governor Katie Hobbs vetoed several crypto asset-related bills in 2025, including SB 1025 to establish a bitcoin strategic reserve and SB 1024 to allow the use of crypto assets for tax payments, the current tax exemption proposal has now been referred to the Senate Rules Committee for further review.
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