property tax; exemption; virtual currency

This constitutional amendment (SCR 1003) proposes adding virtual currency to Arizona's list of property tax-exempt assets. It defines virtual currency as a digital representation of value functioning as a medium of exchange, unit of account, and store of value (excluding U.S. dollars or foreign currency). If approved by voters, it would exempt virtual currency holdings from property taxation for Arizona residents who own such digital assets. The proposal requires voter approval at the next general election to take effect, as it amends the state constitution.