Utah legislation · 2025 General Session
Utah HB306: Precious Metals Amendments
Status: Vetoed, March 27, 2025
This bill enacts and modifies provisions relating to state investment in gold and the establishment of a gold-backed digital payment system.
What the bill says
From the enrolled text:
0 Precious Metals Amendments 2025 GENERAL SESSION STATE OF UTAH Chief Sponsor: Ken Ivory Senate Sponsor: Keith Grover LONG TITLE General Description: This bill enacts and modifies provisions relating to state investment in gold and the establishment of a gold-backed digital payment system. Highlighted Provisions: This bill: - 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; and - requires annual reporting to the Revenue and Taxation Interim Committee. Money Appropriated in this Bill: This bill appropriates $146,800 in operating and capital budgets for fiscal year 2026, all of which is from the various sources as detailed in this bill. Other Special Clauses: This bill provides a special effective date. Utah Code Sections Affected: AMENDS: 63I-1-267 , Effective 05/07/25 as last amended by Laws of Utah 2024, Chapter 385 67-4-19 , Effective 05/07/25 as enacted by Laws of Utah 2024, Chapter 492 ENACTS: 67-4-20 , Effective 05/07/25 Utah Code Annotated 1953 Be it enacted by the Legislature of the state of Utah: Section 1, Section 63I-1-267 is amended to read: 63I-1-267 Effective 05/07/25 . Repeal dates: Title 67. (1) Section …
Sponsors
- Ivory, Ken (R, 39) · primary sponsor
- Keith Grover (R, 23)
Latest actions
- : Governor Vetoed
- : House/ to Governor
- : House/ received enrolled bill from Printing
- : House/ enrolled bill to Printing
- : Enrolled Bill Returned to House or Senate
- : Draft of Enrolled Bill Prepared
- : Bill Received from House for Enrolling
- : House/ signed by Speaker/ sent for enrolling
- : House/ received from Senate
- : Senate/ to House
Votes
- Senate/ passed 2nd & 3rd readings/ suspension (March 7, 2025): 24 yea, 0 nay, passed
- Senate Comm - Favorable Recommendation (March 7, 2025): 4 yea, 1 nay, passed
- House/ passed 3rd reading (March 7, 2025): 66 yea, 5 nay, passed
- House Comm - Favorable Recommendation (February 26, 2025): 10 yea, 1 nay, passed
- Senate/ passed 2nd & 3rd readings/ suspension (February 13, 2025): 25 yea, 2 nay, passed
- Senate Comm - Favorable Recommendation (February 5, 2025): 4 yea, 0 nay, passed
Subjects: Public Utilities and Technology, Division of Finance, State Tax Commission, State Treasurer, Revenue and Taxation
Common questions
- What is HB306?
- HB306 is a bill in the Utah Legislature (2025 General Session): Precious Metals Amendments.
- What does HB306 do?
- This bill enacts and modifies provisions relating to state investment in gold and the establishment of a gold-backed digital payment system.
- What is the status of HB306?
- Vetoed as of March 27, 2025. Latest action: Governor Vetoed (March 27, 2025).
- Who sponsored HB306?
- Ivory, Ken (R, 39), with 1 co-sponsor.
- Where is the official record for HB306?
- On the Utah Legislature website: https://le.utah.gov/~2025/bills/static/HB0306.html
Source: official Utah record. Tracked by Delilah, AI for legislation across all 50 states and Congress.