TPT; exemption; firearm storage devices

HB 2635 amends Arizona's tax code to add new sales tax exemptions for specific items. It exempts sales of "cash equivalents" (like gift cards, stored-value cards, and prepaid digital payment tools) and "precious metal bullion" (refined gold, silver, etc.) from retail sales tax. The bill defines "cash equivalents" as pre-paid items denominated in money redeemable for goods/services, excluding telecom prepaids, and clarifies that "monetized bullion" (coins used as currency) is exempt. This directly affects retailers selling these items, removing tax liability on such transactions. The bill focuses solely on tax policy, with no provisions related to firearm storage devices as inaccurately suggested in the title.