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ARIZONA HOUSE OF REPRESENTATIVES57th Legislature, 2nd Regular Session |
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HB 2872: technical correction; statute of limitations
S/E: child care subsidy fund
Sponsor: Representative Weninger, LD 13
Committee on Appropriations
Summary of the Strike-Everything Amendment to HB 2872
Overview
Provides for the distribution of proceeds from the sale of a forfeited digit asset and creates the Child Care Subsidy Fund.
History
All property forfeited to the state must be transferred to either the seizing agency or to the agency or political subdivision that employs the attorney for the state. An agency that receives forfeited property may: 1) sell, lease, lend or transfer the property to any local or state government entity for use within the state; 2) sell the forfeited property by public or otherwise commercially reasonable sale; 3) destroy or use any forfeited illegal or controlled substances for investigative purposes on written approval of the attorney of the state; 4) sell, use or destroy all forfeited raw materials, products and equipment used or intended for use in manufacturing and processing a controlled substance; 5) compromise and pay claims against forfeited property; or 6) make any other disposition of forfeited property authorized by law.
Proceeds from the sale of forfeited property by public means, after payment of expenses of keeping and selling the property, are paid into the Anti-Racketeering Revolving Fund. Sales of forfeited property are prohibited from being made to any employee of the seizing agency, persons who participated in the forfeiture, employees of a contractor selling the property on behalf of the seizing agency or members of the immediate family of any of these employees of persons (A.R.S. § 13-4315).
The Department of Economic Security is responsible for establishing and administering child care services, which include child care assistance to eligible families, consumer education to families and the public that help families make informed decisions about child care options and activities that improve the quality and availability of child care (A.R.S. § 46-802).
The federal Child Care and Development Fund (CCDF) is administered by the Administration for Children and Families, Office of Child Care. The CCDF provides funding to State, Tribal, and Territory Lead Agencies to offer services to families through subsidized child care, to oversee the regulation of child care providers and to implement activities that improve the quality of child care. The purpose of the CCDF is to increase the availability, affordability and quality of child care services. States, tribes and territories receiving CCDF funds must prepare and submit to the federal government a plan detailing how these funds will be allocated and expended.
Provisions
Forfeited Digital Assets
1. Authorizes the governmental agency that receives forfeited digital assets to sell the digital asset by public or otherwise commercially reasonable sale with expenses of keeping and selling the digital asset and the amount of all valid interests established by claimants, including court ordered restitution, paid out of the proceeds of the sale. (Sec. 1)
2. Specifies that the first $300,000 from the sale of any forfeited digital asset be deposited in the Anti-Racketeering Revolving Fund and any additional amounts be divided by depositing 50% in the Anti-Racketeering Revolving Fund and the remaining 50% in the Child Care Subsidy Fund. (Sec. 1)
3. Specifies the digital asset must be sold through state-approved cryptocurrency exchanges or other secure platforms to ensure accurate valuation and transparency and may remain in its native form. (Sec. 1)
4. Provides requirements for storing a digital asset that is forfeited by the Attorney General. (Sec. 1)
Child Care Subsidy Fund
5. Establishes the Child Care Subsidy Fund which consists of proceeds from the sale of forfeited digital assets. (Sec. 2)
6. Specifies the Fund is administered by the Department of Economic Security for providing child care subsidies to individuals. (Sec. 2)
7. Adds that monies in the Fund are continuously appropriated and exempt from lapsing. (Sec. 2)
Miscellaneous
8. Defines digital asset. (Sec. 1)
9. Makes technical changes. (Sec. 1)
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13. Initials PB HB 2872
14. 2/20/2026 Page 0 Appropriations
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