Briefly
Arizona’s Senate Finance Committee superior S.C.R. 1003 and S.B. 1044 on Monday, shifting each crypto tax exemption measures to the Senate Guidelines Committee.
S.C.R. 1003 would place a November poll measure asking voters to amend the state structure and exempt “digital forex” from property taxation.
The payments characterize Arizona’s continued push towards crypto adoption regardless of Governor Katie Hobbs’ repeated vetoing of crypto-related laws in 2025.
Arizona lawmakers are shifting to exempt crypto from property taxes, advancing a pair of measures that might lock in statewide tax reduction for digital belongings, pending voter approval in November.
The Arizona Senate Finance Committee voted 4–3 to advance Senate Invoice 1044, which might exempt digital forex from property taxation, alongside Senate Concurrent Decision 1003 (S.C.R. 1003), which proposes a constitutional modification to formalize that exemption.
Senator Wendy Rogers (R-Flagstaff) launched the payments final month, with the measures now headed to the Senate Guidelines Committee.
If enacted, S.C.R. 1003 would place a constitutional modification earlier than Arizona voters in November, asking whether or not to outline digital forex and prohibit advert valorem taxation of such belongings.
S.B. 1044 would amend state regulation to mirror that prohibition, exempting “digital forex” from taxation and defining it as “a digital illustration of worth that capabilities as a medium of alternate, a unit of account and a retailer of worth apart from a illustration of america greenback or a international forex.”
Rogers sponsored comparable property tax exemption laws final 12 months that handed the Senate however didn’t advance within the state Home.
She has been a vocal advocate for crypto adoption in Arizona, beforehand sponsoring the “Arizona Strategic Bitcoin Reserve Act” (Senate Invoice 1025), which might have allowed state treasurers and retirement programs to allocate as much as 10% of state funds into Bitcoin and different digital belongings.
Arizona and crypto
Arizona’s crypto coverage has superior within the legislature however has repeatedly run into resistance from the Governor’s workplace.
Governor Katie Hobbs vetoed 4 Bitcoin-related payments in the course of the 2025 legislative session.
Other than rejecting Rogers’ Strategic Bitcoin Reserve Act, she blocked Senate Invoice 1373, which might have established a Digital Property Strategic Reserve Fund to carry crypto obtained by seizures, citing that “present volatility in cryptocurrency markets doesn’t make a prudent match for normal fund {dollars}.”
Moreover, Hobbs vetoed Senate Invoice 1024, which might have allowed Arizona businesses to just accept crypto funds for fines, taxes, and charges, saying it “nonetheless leaves the door open for an excessive amount of danger.”
She additionally rejected Home Invoice 2324, which sought to create a “Bitcoin and Digital Property Reserve Fund” managed by the state treasurer and funded by crypto seized in felony investigations, saying it “disincentivizes native regulation enforcement from working with the state on digital asset forfeiture by eradicating seized belongings from native jurisdictions.”
Nonetheless, final Might Hobbs signed Home Invoice 2749, which modernized unclaimed property legal guidelines to permit crypto belongings to be held of their unique type relatively than liquidated.
The one different crypto measure Hobbs signed was Home Invoice 2387, which imposed strict fraud prevention, transaction caps, and compliance guidelines on crypto ATM operators.
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