Bill Text: AZ SB1423 | 2016 | Fifty-second Legislature 2nd Regular | Engrossed

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Bill Title: Gold and silver coins; taxation

Spectrum: Partisan Bill (Republican 10-0)

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

 

 

 

State of Arizona

Senate

Fifty-second Legislature

Second Regular Session

2016

 

 

SENATE BILL 1423

 

 

 

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:

START_STATUTE42‑1131.  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.  END_STATUTE