2025 bills / H.B. 306

H.B. 306 Precious Metals Amendments (2025)

Vetoed by the governorWritten by Rep. Ken Ivory · carried in the Senate by Sen. Keith Grover

  1. Introduced
  2. House committee
  3. House vote
  4. Senate committee
  5. Senate vote
  6. Vetoed by governor (stopped here)

What this bill does

This bill extends the state treasurer's precious metals study requirement and adds a sunset date to it. It directs the treasurer to run a competitive bidding process for a payment system backed by precious metals, set rules for the request for proposals, evaluate bids, and report yearly to a legislative committee.

Plain-English summary written by AI from the official description. Check the official text below.

Official description
  • extends and adds a sunset date to the state treasurer's precious metals study requirement
  • requires the state treasurer to develop and issue a competitive procurement for a precious metals-backed electronic payment system
  • establishes requirements for the request for proposals
  • requires the state treasurer to evaluate proposals
  • requires annual reporting to the Revenue and Taxation Interim Committee
Full text and history on le.utah.gov →

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