Bill > HB0067

This bill modifies Utah state law regarding the state treasurer's ability to invest public funds in precious metals by allowing the treasurer to deduct administrative costs directly from the earnings generated by these investments for specific accounts, including the State Disaster Recovery Restricted Account, General Fund Budget Reserve Account, Income Tax Fund Budget Reserve Account, and Medicaid Growth Reduction and Budget Stabilization Account. The bill removes previous requirements for the state treasurer to conduct a study on the role of precious metals in the state's economic security and to submit recommendations to the Revenue and Taxation Interim Committee. The existing investment restrictions remain in place, which limit precious metals investments to no more than 10% of the total funds in each specified account at the time of investment. The bill will take effect on May 7, 2025, and streamlines the administrative process for managing precious metals investments by allowing direct cost recovery from investment earnings.

Budget and Finance

https://le.utah.gov/~2025/bills/static/HB0067.html