Bill Text: AZ SB1423 | 2016 | Fifty-second Legislature 2nd Regular | Engrossed
Bill Title: Gold and silver coins; taxation
Sponsorship: Partisan Bill (Republican 10)
Status: (Engrossed - Dead) 2016-03-14 - Referred to House RULES Committee [SB1423 Detail]
Download: Arizona-2016-SB1423-Engrossed.html
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Senate Engrossed |
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State of Arizona Senate Fifty-second Legislature Second Regular Session 2016
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SENATE BILL 1423 |
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AN ACT
amending title 42, chapter 1, article 3, Arizona Revised Statutes, by adding section 42‑1131; relating to taxation.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 42, chapter 1, article 3, Arizona Revised Statutes, is amended by adding section 42‑1131, to read:
42‑1131. Gold and silver coin exchanges; taxation
Notwithstanding any other law, the exchange of gold or silver coins does not give rise to liability for any type of tax.� Gold and silver coins are money and are not subject to taxation except as may be required by article IX, section 2, subsection 13, constitution of Arizona.�
