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Read. Follow. Verify.Utah Law Requires State Treasurer to Develop Precious Metals Electronic Payment System and Continue Metal Investment Studies
Last action · March 26, 2026: Became Law w/o Governor SignatureSponsors: Ken Ivory and 24 others
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What This Bill Does
Utah law requires the state treasurer to issue a request for proposals for a , extend precious metals studies through 2027, and report annually to the legislature beginning May 6, 2026.
Changes how state contractors and participants can interact with state-backed digital transactions tied to physical gold and silver, impacting administrative reporting and optional electronic payment methods.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
State Treasurer
Must conduct annual studies, contract with third parties for the electronic payment system, evaluate employee compensation options, and report to the legislature.
Division of Finance
Must make rules governing the use of the payment system by participating contractors and evaluate integration into the statewide accounting system.
Participating Contractors
May choose to receive payment from the state through the precious metals-backed electronic payment system and must pay transaction costs.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Are state contractors forced to use the precious metals-backed electronic payment system?
Who pays the fees when transactions occur on the precious metals electronic payment system?
What accounts are eligible for precious metals investments by the state treasurer?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Current status: Became law without the governor's signature.
Procedural history
46 actions- Mar 26, 2026Lieutenant Governor's office for filingBecame Law w/o Governor Signature
- Mar 12, 2026HouseHouse/ to Governor
- Mar 12, 2026HouseHouse/ received enrolled bill from Printing
- Mar 11, 2026HouseHouse/ enrolled bill to Printing
- Mar 11, 2026Clerk of the HouseEnrolled Bill Returned to House or Senate
- Mar 6, 2026Legislative Research and General Counsel / EnrollingDraft of Enrolled Bill Prepared
Show 40 earlier actions
- Mar 6, 2026Legislative Research and General Counsel / EnrollingBill Received from House for Enrolling
- Mar 5, 2026HouseHouse/ signed by Speaker/ sent for enrolling
- Mar 5, 2026HouseHouse/ received from Senate
- Mar 5, 2026SenateSenate/ to House
- Mar 5, 2026SenateSenate/ signed by President/ returned to House
- Mar 5, 2026SenateFloorSenate/ passed 2nd & 3rd readings/ suspension
- Mar 5, 2026SenateSenate/ motion to reconsider
- Mar 5, 2026SenateSenate/ failed
- Mar 5, 2026SenateSenate/ 2nd & 3rd readings/ suspension
- Mar 5, 2026SenateSenate/ Rules to 2nd Reading Calendar
- Mar 4, 2026SenateSenate/ 2nd Reading Calendar to Rules
- Mar 2, 2026SenateSenate/ placed on 2nd Reading Calendar
- Mar 2, 2026SenateSenate/ committee report favorable
- Mar 2, 2026SenateSenate Comm - Favorable Recommendation
- Feb 17, 2026SenateSenate Comm - Motion to Recommend Failed
- Feb 17, 2026SenateCommitteeSenate/ to standing committee
- Feb 12, 2026SenateIntroducedSenate/ 1st reading (Introduced)
- Feb 10, 2026SenateSenate/ received from House
- Feb 10, 2026HouseHouse/ to Senate
- Feb 10, 2026HouseFloorHouse/ passed 3rd reading
- Feb 10, 2026HouseHouse/ floor amendment
- Feb 10, 2026HouseHouse/ 3rd reading
- Jan 30, 2026HouseHouse/ 2nd reading
- Jan 30, 2026HouseHouse/ committee report favorable
- Jan 29, 2026HouseHouse Comm - Favorable Recommendation
- Jan 28, 2026ReleasedLFA/ fiscal note publicly available for HB0195S01
- Jan 28, 2026Version SponsorLFA/ fiscal note sent to sponsor for HB0195S01
- Jan 26, 2026HouseCommitteeHouse/ to standing committee
- Jan 26, 2026House Rules CommitteeBill Substituted by Sponsor in House Rules Comm
- Jan 23, 2026Legislative Fiscal AgencyLFA/ bill sent to agencies for fiscal input for HB0195S01
- Jan 23, 2026Legislative Fiscal AnalystLFA/ bill assigned to staff for fiscal analysis for HB0195S01
- Jan 22, 2026HouseHouse/ received fiscal note from Fiscal Analyst
- Jan 22, 2026ReleasedLFA/ fiscal note publicly available for HB0195
- Jan 20, 2026HouseIntroducedHouse/ 1st reading (Introduced)
- Jan 16, 2026Version SponsorLFA/ fiscal note sent to sponsor for HB0195
- Jan 14, 2026HouseHouse/ received bill from Legislative Research
- Jan 8, 2026Legislative Fiscal AgencyLFA/ bill sent to agencies for fiscal input for HB0195
- Jan 8, 2026Legislative Fiscal AnalystLFA/ bill assigned to staff for fiscal analysis for HB0195
- Jan 8, 2026Legislative Research and General CounselNumbered Bill Publicly Distributed
- Jan 8, 2026Legislative Research and General CounselBill Numbered but not Distributed
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Show 20 more sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Establishment of State-Facilitated Precious Metals Payments
The legislation moves beyond holding precious metals as a reserve asset to mandating the creation of a transactional electronic payment system backed by physical gold and silver.
Connected Entities
Sources
le.utah.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy45Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz50Current news / social attention level
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