Legislators in Nevada completed work on a bill to block the taxation of blockchain use.
Public records show the bill, first reported by CoinDesk in March, has unanimously passed both the state Senate and the House of Representatives. The measure was introduced by Senator Ben Kieckhefer, and has since been sent to Governor Brian Sandoval’s office for signature.
As previously reported, the Nevada bill – the first of its kind – if signed into law, would keep local jurisdictions from taxing blockchain use.
The text explains:
“A local governmental entity shall not: (a) Impose any tax or fee on the use of a blockchain or smart contract by any person or entity; (b) Require any person or entity to obtain from the local governmental entity any certificate, license or permit to use a blockchain or smart contract; or (c) Impose any other requirement relating to the use of a blockchain or smart contract by any person or entity.”
The bill also ensures blockchain-based records can be introduced and utilized during “proceedings”, stipulating that “if a law requires a record to be in writing, submission of a blockchain which electronically contains the record satisfies the law”.
Nevada State House image via Shutterstock