Overview
- The Senate Finance Committee voted 4–3 to send S.B. 1044 and S.C.R. 1003 to the Senate Rules Committee.
- S.B. 1044 would bar ad valorem taxation of virtual currency by statute and defines it as a digital representation of value used as a medium of exchange, a unit of account, and a store of value, excluding sovereign currency.
- S.C.R. 1003 would ask voters in November to amend the state constitution to prohibit property taxes on the defined class of digital assets.
- Sen. Wendy Rogers sponsored the measures, which group Bitcoin, Ethereum, and stablecoins under a single virtual currency definition.
- The push continues after Gov. Katie Hobbs vetoed several broader crypto bills in 2025, though she signed narrower laws on unclaimed crypto property and crypto ATM oversight.