Arizona 2024 Regular Session

Arizona Senate Bill SCR1010 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	~~Senate Engrossed~~ property tax exemption; virtual currency State of Arizona Senate Fifty-sixth Legislature Second Regular Session 2024 ~~SENATE CONCURRENT RESOLUTION~~ 1010 A Concurrent Resolution proposing an amendment to the Constitution of Arizona; amending article IX, section 2, Constitution of Arizona; relating to property tax exemptions. (TEXT OF BILL BEGINS ON NEXT PAGE)
	1	+	REFERENCE TITLE: property tax exemption; virtual currency State of Arizona Senate Fifty-sixth Legislature Second Regular Session 2024 SCR 1010 Introduced by Senators Rogers: Kern, Wadsack; Representative Gillette A Concurrent Resolution proposing an amendment to the Constitution of Arizona; amending article IX, section 2, Constitution of Arizona; relating to property tax exemptions. (TEXT OF BILL BEGINS ON NEXT PAGE)
2	2
3	3
4	4
5	5
6	6
7	7
8	8
9		-	~~Senate Engrossed~~ property tax exemption; virtual currency
	9	+	REFERENCE TITLE: property tax exemption; virtual currency
10	10		State of Arizona Senate Fifty-sixth Legislature Second Regular Session 2024
11		-	SENATE CONCURRENT RESOLUTION 1010
	11	+	SCR 1010
	12	+	Introduced by Senators Rogers: Kern, Wadsack; Representative Gillette
12	13
13		-	Senate Engrossed
14		-
15		-
16		-
17		-	property tax exemption; virtual currency
	14	+	REFERENCE TITLE: property tax exemption; virtual currency
18	15
19	16
20	17
21	18
22	19
23	20
24	21
25	22
26	23
27	24		State of Arizona
28	25
29	26		Senate
30	27
31	28		Fifty-sixth Legislature
32	29
33	30		Second Regular Session
34	31
35	32		2024
36	33
37	34
38	35
39	36
40	37
41	38
42	39
43		-	SENATE CONCURRENT RESOLUTION 1010
	40	+	SCR 1010
	41	+
	42	+
	43	+
	44	+	Introduced by
	45	+
	46	+	Senators Rogers: Kern, Wadsack; Representative Gillette
	47	+
	48	+
	49	+
	50	+
	51	+
	52	+
	53	+
	54	+
44	55
45	56
46	57
47	58
48	59
49	60
50	61
51	62
52	63
53	64		A Concurrent Resolution
54	65
55	66
56	67
57	68		proposing an amendment to the Constitution of Arizona; amending article IX, section 2, Constitution of Arizona; relating to property tax exemptions.
58	69
59	70
60	71
61	72
62	73
63	74		(TEXT OF BILL BEGINS ON NEXT PAGE)
64	75
65	76
66	77
67	78		Be it resolved by the Senate of the State of Arizona, the House of Representatives concurring: 1. Article IX, section 2, Constitution of Arizona, is proposed to be amended as follows if approved by the voters and on proclamation of the Governor: START_STATUTE2. Property subject to taxation; exemptions Section 2. A. All property in this state that is not exempt under the laws of the United States or under this section is subject to taxation as provided by law. B. Property that has been conveyed to evade taxation is not exempt. C. The following property is exempt from taxation: 1. All federal, state, county and municipal property. 2. Public debts, as evidenced by the bonds of this state and its counties, municipalities and other political subdivisions. 3. Household goods that are owned by the user of the goods and that are used solely for noncommercial purposes. 4. Stocks of raw or finished materials, unassembled parts, works in process or finished products constituting the inventory of a retailer or wholesaler that is located in this state and principally engaged in the resale of the materials, parts, works or products, whether or not for resale to the ultimate consumer. 5. Virtual currency. For the purposes of this paragraph, "virtual currency" means a digital representation of value that functions as A medium of exchange, a unit of account and a store of value other than a representation of the United States dollar or a foreign currency. D. Subsection C of this section is self-executing, and persons who are entitled to the exemption are not required to take any affirmative action to receive the benefit of the exemption. E. The legislature may exempt the following property by law: 1. The property of an educational, charitable or religious association or institution that is not used or held for profit. 2. Personal property that is used in a trade or business or for agricultural purposes. 3. Cemeteries that are set apart and used to inter deceased human beings. 4. The property of a widow or widower who is a resident of this state. 5. The property of a resident of this state who is at least eighteen years of age and who has a medically certified total and permanent disability. 6. The property of an honorably discharged veteran of the uniformed services of the United States who is a resident of this state and who has a service or nonservice connected disability as determined by the United States department of veterans affairs, or its successor agency. F. The legislature may determine by law the qualifications for, and the amount of, the exemptions of property described in subsection E of this section. G. A person is not eligible for exemption under more than one category as a widow, widower, person with a total and permanent disability or veteran with a disability under subsection E, paragraph 4, 5 or 6 of this section. END_STATUTE 2. The Secretary of State shall submit this proposition to the voters at the next general election as provided by article XXI, Constitution of Arizona.
68	79
69	80		Be it resolved by the Senate of the State of Arizona, the House of Representatives concurring:
70	81
71	82		1. Article IX, section 2, Constitution of Arizona, is proposed to be amended as follows if approved by the voters and on proclamation of the Governor:
72	83
73	84		START_STATUTE2. Property subject to taxation; exemptions
74	85
75	86		Section 2. A. All property in this state that is not exempt under the laws of the United States or under this section is subject to taxation as provided by law.
76	87
77	88		B. Property that has been conveyed to evade taxation is not exempt.
78	89
79	90		C. The following property is exempt from taxation:
80	91
81	92		1. All federal, state, county and municipal property.
82	93
83	94		2. Public debts, as evidenced by the bonds of this state and its counties, municipalities and other political subdivisions.
84	95
85	96		3. Household goods that are owned by the user of the goods and that are used solely for noncommercial purposes.
86	97
87	98		4. Stocks of raw or finished materials, unassembled parts, works in process or finished products constituting the inventory of a retailer or wholesaler that is located in this state and principally engaged in the resale of the materials, parts, works or products, whether or not for resale to the ultimate consumer.
88	99
89	100		5. Virtual currency. For the purposes of this paragraph, "virtual currency" means a digital representation of value that functions as A medium of exchange, a unit of account and a store of value other than a representation of the United States dollar or a foreign currency.
90	101
91	102		D. Subsection C of this section is self-executing, and persons who are entitled to the exemption are not required to take any affirmative action to receive the benefit of the exemption.
92	103
93	104		E. The legislature may exempt the following property by law:
94	105
95	106		1. The property of an educational, charitable or religious association or institution that is not used or held for profit.
96	107
97	108		2. Personal property that is used in a trade or business or for agricultural purposes.
98	109
99	110		3. Cemeteries that are set apart and used to inter deceased human beings.
100	111
101	112		4. The property of a widow or widower who is a resident of this state.
102	113
103	114		5. The property of a resident of this state who is at least eighteen years of age and who has a medically certified total and permanent disability.
104	115
105	116		6. The property of an honorably discharged veteran of the uniformed services of the United States who is a resident of this state and who has a service or nonservice connected disability as determined by the United States department of veterans affairs, or its successor agency.
106	117
107	118		F. The legislature may determine by law the qualifications for, and the amount of, the exemptions of property described in subsection E of this section.
108	119
109	120		G. A person is not eligible for exemption under more than one category as a widow, widower, person with a total and permanent disability or veteran with a disability under subsection E, paragraph 4, 5 or 6 of this section. END_STATUTE
110	121
111	122		2. The Secretary of State shall submit this proposition to the voters at the next general election as provided by article XXI, Constitution of Arizona.