PRIA Logo™
UtahH.B. 1952026 General SessionHouseWALLET

Precious Metals Amendments

Sponsored By: Ken Ivory (Republican)

Became Law

Public Funds and AccountsElectronic DatabasesElectronic TransactionsElectronic InformationPublic BudgetingBusinessFinancial InstitutionsSecuritiesEnergyNatural ResourcesMiningLegislative OperationsLegislative Committees and Task ForcesLegislative OrganizationGovernment Operations (State Issues)AppropriationsConstitutional OfficersState Treasurer

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Utah creates optional metals-backed payment system

Beginning May 6, 2026, Utah must arrange a publicly available electronic payment system backed by gold or silver in Utah vaults. The system must let users redeem physical metal and let the state pay contractors who choose to join. Participation is optional for contractors and state entities, and the state can keep using other payment methods. The treasurer must hire outside operators through competitive proposals, weighing security, efficiency, and cost. The system must follow state money-management rules and all applicable state and federal laws. The treasurer must consult state tax officials and report annually to the Revenue and Taxation Interim Committee. The Division of Finance must set contractor-use rules and study links to the state's accounting system. Both agencies must study options for paying state employees through the system.

Metals-backed payment users pay transaction costs

Beginning May 6, 2026, users pay transaction costs when receiving payments through Utah's precious metals-backed electronic payment system. Users also pay transaction costs when redeeming physical gold or silver. The law sets no amount or formula for these charges.

Sponsors & Cosponsors

Sponsor

  • Ken Ivory

    Republican • House

Cosponsors

  • Cheryl K. Acton

    Republican • House

  • Carl R. Albrecht

    Republican • House

  • Tiara Auxier

    Republican • House

  • Stewart E. Barlow

    Republican • House

  • Burton, J.

    Affiliation unavailable

  • Kay J. Christofferson

    Republican • House

  • Clancy, T.

    Affiliation unavailable

  • Jennifer Dailey-Provost

    Democratic • House

  • Joseph Elison

    Republican • House

  • Keith Grover

    Republican • Senate

  • Gwynn, M.

    Affiliation unavailable

  • Colin W. Jack

    Republican • House

  • Jason B. Kyle

    Republican • House

  • Lee, T.

    Affiliation unavailable

  • Matt MacPherson

    Republican • House

  • Michael J. Petersen

    Republican • House

  • Jake Sawyer

    Republican • House

  • Troy Shelley

    Republican • House

  • Rex P. Shipp

    Republican • House

  • Casey Snider

    Republican • House

  • Jason E. Thompson

    Republican • House

  • Doug Welton

    Republican • House

  • Stephen L. Whyte

    Republican • House

  • Ryan D. Wilcox

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 119 • No: 24

Senate vote • 3/5/2026

Senate/ failed

Yes: 14 • No: 7

Senate vote • 3/5/2026

Senate/ passed 2nd & 3rd readings/ suspension

Yes: 22 • No: 6

Senate vote • 3/5/2026

Senate/ motion to reconsider

Yes: 0 • No: 0

Senate vote • 3/2/2026

Senate Comm - Favorable Recommendation

Yes: 4 • No: 2

Senate vote • 2/17/2026

Senate Comm - Motion to Recommend Failed

Yes: 3 • No: 3

House vote • 2/10/2026

House/ passed 3rd reading

Yes: 65 • No: 6

House vote • 2/10/2026

House/ floor amendment

Yes: 0 • No: 0

House vote • 1/29/2026

House Comm - Favorable Recommendation

Yes: 11 • No: 0

Actions Timeline

  1. Became Law w/o Governor Signature

    3/26/2026

  2. House/ to Governor

    3/12/2026House

  3. House/ received enrolled bill from Printing

    3/12/2026House

  4. House/ enrolled bill to Printing

    3/11/2026House

  5. Enrolled Bill Returned to House or Senate

    3/11/2026

  6. Draft of Enrolled Bill Prepared

    3/6/2026

  7. Bill Received from House for Enrolling

    3/6/2026

  8. House/ signed by Speaker/ sent for enrolling

    3/5/2026House

  9. House/ received from Senate

    3/5/2026House

  10. Senate/ to House

    3/5/2026Senate

  11. Senate/ signed by President/ returned to House

    3/5/2026Senate

  12. Senate/ passed 2nd & 3rd readings/ suspension

    3/5/2026Senate

  13. Senate/ motion to reconsider

    3/5/2026Senate

  14. Senate/ failed

    3/5/2026Senate

  15. Senate/ 2nd & 3rd readings/ suspension

    3/5/2026Senate

  16. Senate/ Rules to 2nd Reading Calendar

    3/5/2026Senate

  17. Senate/ 2nd Reading Calendar to Rules

    3/4/2026Senate

  18. Senate/ placed on 2nd Reading Calendar

    3/2/2026Senate

  19. Senate/ committee report favorable

    3/2/2026Senate

  20. Senate Comm - Favorable Recommendation

    3/2/2026

  21. Senate Comm - Motion to Recommend Failed

    2/17/2026

  22. Senate/ to standing committee

    2/17/2026Senate

  23. Senate/ 1st reading (Introduced)

    2/12/2026Senate

  24. Senate/ received from House

    2/10/2026Senate

  25. House/ to Senate

    2/10/2026House

Bill Text

  • Enrolled

    3/11/2026

    PDF

  • Amended 2/10/2026 14:02:964

    2/10/2026

    PDF

  • Substitute #1

    1/23/2026

    PDF

  • Introduced

    1/8/2026

    PDF

Related Bills

Back to State Legislation