Establishes a process to deem digital assets as abandoned property and for a holder to deliver the abandoned property to the Arizona Department of Revenue (ADOR).
Digital assets are presumed abandoned three years after a written or electronic communication is returned to owner as undeliverable by USPS or electronic method.
Specifies requirements of what qualifies as exercise of an act of ownership interest.
Creates the Bitcoin and Digital Assets Reserve Fund consisting of abandoned digital assets unclaimed after three years have passed since transfer to a qualified custodian.
Requires State Treasurer to deposit 10% of digital assets in Fund to state general fund
Prohibits the state legislature from depositing bitcoin into the state general fund.
Legislative History
On Feb. 10, 2025, bill introduced in House; on Feb. 26, 2025, bill passed in House.
On Mar. 6, 2025, bill introduced in Senate; on Apr. 30, 2025, bill passed in House.
On May 1, 2025, bill was transmitted to the governor; pending governor review.
Effectiveness
Upon governor approval, takes effect 90 days after adjournment sine die, so Sep. 26.
May 2025 AZ LEG Governor Approval
On May 7, 2025, AZ LEG reported bill signed into law by governor, assigned Ch. 150.
