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Senate Engrossed
blockchain technology; tax; fee; prohibition |
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State of Arizona Senate Fifty-sixth Legislature Second Regular Session 2024
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SENATE BILL 1127 |
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An Act
amending sections 9-500.42 and 11-269.22, Arizona Revised Statutes; relating to local governments.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 9-500.42, Arizona Revised Statutes, is amended to read:
9-500.42. Prohibition on regulation of running node on blockchain technology; taxation; state preemption; definitions
A. A city or town may not prohibit or otherwise restrict an individual from running a node on blockchain technology in a residence.
b. a city or town may not impose a tax or fee on any person or entity for running a node on blockchain technology in a residence. This subsection does not apply to a tax levied pursuant to section 42-6012.
B. c. The regulation of the act of running a node on blockchain technology in a residence and the imposition of a tax or fee on a pERSON or entity running a node on blockchain technology in a residence is of statewide concern and not subject to further regulation by a city or town.
C. D. For the purposes of this section: ,
1. "blockchain technology" has the same meaning prescribed in section 44-7061.
2. "Running a node on blockchain technology" means providing computing power to validate or encrypt transactions in blockchain technology as defined in section 44-7061.
Sec. 2. Section 11-269.22, Arizona Revised Statutes, is amended to read:
11-269.22. Prohibition on regulation of running node on blockchain technology; taxation; state preemption; definitions
A. A county may not prohibit or otherwise restrict an individual from running a node on blockchain technology in a residence.
b. a county may not impose a tax or fee on any person or entity for running a node on blockchain technology in a residence. This subsection does not apply to a tax levied pursuant to section 42-6110.
B. c. The regulation of the act of running a node on blockchain technology in a residence and the imposition of a tax or fee on a pERSON or entity running a node on blockchain technology in a residence is of statewide concern and not subject to further regulation by a county.
C. d. For the purposes of this section: ,
1. "blockchain technology" has the same meaning prescribed in section 44-7061.
2. "Running a node on blockchain technology" means providing computing power to validate or encrypt transactions in blockchain technology as defined in section 44-7061.