SB 1144
Initials JH Page 1 Caucus & COW
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
First Regular Session
Senate: ELEC DP 5-3-0-0 | 3
rd
Read: 16-13-1-0
House: MOE DPA/SE 6-3-1-0
SB 1144: electronic ballot adjudication; prohibition
S/E: central bank digital currency; prohibition
Sponsor: Senator Hoffman, LD 15
Caucus & COW
Summary of the Strike-Everything Amendment to SB 1144
Overview
Prohibits the use of federally adopted central bank digital currency (CBDC) involving any contract,
security or similar interest in this state, including commercial contracts.
History
CBDC is a digital form of central bank money that is widely available to the general public. Central
bank money refers to money that is a liability of the central bank. In the United States, there are
currently two types of central bank money: 1) physical currency issued by the Federal Reserve;
and 2) digital balances held by commercial banks at the Federal Reserve (Federal Reserve).
Provisions
1. States federally adopted CBDC may not be the subject or medium of payment of any contract,
security or other similar instrument in this state, including contracts relating to commercial
transactions. (Sec. 1)
2. Specifies that disbursements made by escrow agents may not be settled or backed by
federally adopted CBDC. (Sec. 3)
3. Alters the definition of money to specify that the term does not include federally adopted
CBDC. (Sec. 10)
4. Defines legal tender and specie. (Sec. 1)
5. Makes technical and conforming changes. (Sec. 2, 3, 4, 5, 6, 7, 8, 9, 10)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note