SB 1144 Summary

• Amends Arizona law to prohibit central bank digital currency (CBDC) as legal tender and from being used as the subject or medium of payment in any contract, security, or other similar instrument in the state.

• Adds new Chapter 9 to Title 1 of Arizona Revised Statutes establishing that legal tender consists of any medium of exchange authorized by the U.S. Constitution or Congress, explicitly excluding CBDC.

• Modifies financial regulations including escrow agent disbursements (Section 6-843), trust company definitions (Section 6-851), and video service provider license fee payments to prohibit settlement or backing by CBDC.

• Updates tax code sections (43-1021, 43-1022, 43-1121, 43-1122) to reference the new legal tender definition in Section 1-901 rather than repeating the definition in each section.

• Amends commercial law definitions (Section 47-1201) to exclude CBDC from the definition of "money" for purposes of Arizona's Uniform Commercial Code.