Arizona Legislature Advances Proposal to Exempt Crypto Assets from Property Tax

Odaily News The Arizona Senate Finance Committee passed SB 1044 and the concurrent resolution SCR 1003 with a 4-3 vote. This series of proposals, introduced by Wendy Rogers, aims to exempt virtual currency from property tax. If passed, SCR 1003 would allow voters to decide in the November ballot whether to formally establish this tax exemption by amending the state constitution.

The SB 1044 bill seeks to amend state law to define virtual currency, describing it as a digital representation of value that functions as a medium of exchange, unit of account, and store of value, and is not the U.S. dollar or a foreign currency. Although Governor Katie Hobbs vetoed several crypto-related bills in 2025, including SB 1025 which aimed to establish a strategic Bitcoin reserve and SB 1024 which would have allowed tax payments using crypto assets, the current tax exemption proposal has now been referred to the Senate Rules Committee for further consideration.