A committee in the Arizona House of Representatives has recommended the passage of a bill allowing state residents to pay their tax bills in bitcoin.
Public records show that the Houseâs Ways and Means Committee advanced the measure on March 7. While the bill wonât be finalized until the full House puts it up to a vote, the endorsement raises the likelihood that it will be sent to the governorâs desk for signature â and become state law.
Lawmakers first began considering the measure back in January, as CoinDesk previously reported. If approved, residents can pay âtax and any interest and penaltiesâ using âbitcoin or other cryptocurrency.â While the specifics of this process will likely need to be fleshed out further, the measure also calls for the stateâs Department of Revenue to convert the cryptocurrency to U.S. dollars within 24 hours.
Arizonaâs State Senate passed the bill by a 16-13 vote on February 8, as reported at the time, and the bill was then passed on to the House just over a week later.
If the bill is eventually signed into law, Arizona would become the first U.S. state to accept cryptocurrencies for tax payments. But it may not be the last â as CoinDesk has reported, lawmakers in Illinois and Georgia have made similar proposals, though it remains to be seen whether those measures will enjoy similar support.
Recent comments from one of the billâs co-sponsors suggest that the measure fits into a wider plan to make Arizona an accommodative environment for the tech.
âItâs one of a litany of bills that weâre running that is sending a signal to everyone in the United States, and possibly throughout the world, that Arizona is going to be the place to be for blockchain and digital currency technology in the future,â Arizona State Rep. Jeff Weninger told Fox News last month.
Bitcoin and dollars image via Shutterstock
