REFERENCE TITLE: public employees; salaries; virtual currency

State of Arizona

Senate

Fifty-fifth Legislature

Second Regular Session

2022

SB 1493

Introduced by

Senator Rogers

AN ACT

Amending title 38, chapter 4, article 1, Arizona Revised Statutes, by adding section 38-619; relating to salaries.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Title 38, chapter 4, article 1, Arizona Revised Statutes, is amended by adding section 38-619, to read:

START_STATUTE38-619. Public employees; salaries; virtual currency; definitions

A. beginning January 1, 2023, this state or a political subdivision of this state may pay its employees' salaries in virtual currency, if requested by the employees.

B. FOR THE PURPOSES OF THIS SECTION:

1. "Political subdivision" means a city, town, county or school district.

2. "VIRTUAL CURRENCY" MEANS A DIGITAL REPRESENTATION OF VALUE, OTHER THAN A REPRESENTATION OF THE UNITED STATES DOLLAR OR A FOREIGN CURRENCY, THAT FUNCTIONS AS A UNIT OF ACCOUNT, A STORE OF VALUE OR A MEDIUM OF EXCHANGE. END_STATUTE