Senate Bill 1062 Summary

• Creates Arizona Revised Statutes Title 1, Chapter 9 to define legal tender as including U.S. currency, specie (precious metal coins), and cryptocurrency (bitcoin, XRP, ethereum, litecoin, and bitcoin cash).

• Amends section 6-851 to update the definition of "legal tender" in trust company regulations to reference the new legal tender statute.

• Amends sections 9-1443 and 11-1943 to update payment requirements for video service provider license fees to reference the new legal tender definition.

• Amends sections 43-1021 and 43-1022 (individual income tax) and sections 43-1121 and 43-1122 (corporate income tax) to update all references to "legal tender" to use the new comprehensive definition in section 1-901.