AZ SB1240

Adds section 42-11134 to Arizona Revised Statutes to create a property tax exemption for virtual currency.

Defines virtual currency as a digital representation of value that functions as a medium of exchange, unit of account, and store of value, excluding U.S. dollars or foreign currencies.

Exempts virtual currency from taxation under Arizona property tax law.

Bill becomes effective only if Arizona voters approve Senate Concurrent Resolution 1007 (relating to property tax exemptions) at the next general election.