Bill Text: AZ SB1341 | 2022 | Fifty-fifth Legislature 2nd Regular | Introduced

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Bill Title: Legal tender; specie; bitcoin

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-01-26 - Senate read second time [SB1341 Detail]

Download: Arizona-2022-SB1341-Introduced.html

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REFERENCE TITLE: legal tender; specie; bitcoin

 

 

 

 

State of Arizona

Senate

Fifty-fifth Legislature

Second Regular Session

2022

 

 

 

SB 1341

 

Introduced by

Senator Rogers

 

 

AN ACT

 

amending title 1, Arizona Revised Statutes, by adding chapter 9; relating to legal tender.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1. Title 1, Arizona Revised Statutes, is amended by adding chapter 9, to read:

CHAPTER 9

LEGAL TENDER

ARTICLE 1. GENERAL PROVISIONS

START_STATUTE1-901. Legal tender; definitions

A. Legal tender in this state consists of all of the following:

1. any medium of exchange that is authorized by the United States constitution or congress for the payment of debts, public charges, taxes and dues.

2. Specie issued at any time by the United States government.

3. Any other specie that a court of competent jurisdiction rules by a final, unappealable order to be within the scope of state authority to make a legal tender.

4. Bitcoin.

B. For the purposes of this section:

1. "bitcoin" means the decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems and that operates independently of a central bank.

2. "Specie" means coins having precious metal content.END_STATUTE