Utah HB0195 establishes a precious metals-backed electronic payment system for state contractors and requires annual studies on precious metals'.

Utah HB0195 mandates the state treasurer to issue requests for proposals to create and operate a precious metals-backed electronic payment system for state contractors. The system must use physical gold or silver held in vault facilities as backing for electronic transactions and allow for redemption of physical precious metals. The bill also requires the state treasurer to conduct an annual study on the role of precious metals in the state's economy and submit recommendations to the Revenue and Taxation Interim Committee.

Utah HB0195 establishes a precious metals-backed electronic payment system for state contractors and requires annual studies on precious metals'.

Utah HB0195 mandates the state treasurer to issue requests for proposals to create and operate a precious metals-backed electronic payment system for state contractors. The system must use physical gold or silver held in vault facilities as backing for electronic transactions and allow for redemption of physical precious metals. The bill also requires the state treasurer to conduct an annual study on the role of precious metals in the state's economy and submit recommendations to the Revenue and Taxation Interim Committee.