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Utah work group finalizes precious‑metals study, asks members for edits by Friday
Summary
The Precious Metals Work Group reviewed four draft bills and asked members to submit edits to the study report by end of day tomorrow so it can be delivered to the Revenue and Tax Interim Committee on Friday. Discussion centered on a narrow treasurer‑cost cleanup and a proposed gold‑backed electronic payment system RFP.
The Precious Metals Work Group met Oct. 9 to review a draft study and four draft bills related to state purchases and payment systems involving precious metals. Chair (S1) told members the draft report had been circulated and requested edits "by the end of day tomorrow" so the group can present the document to the Revenue and Tax Interim Committee on Friday.
Members agreed to focus the discussion on the two most substantive items: a narrow cleanup bill clarifying that the treasurer may recover administrative costs for precious‑metals investments, and a second bill directing the treasurer to issue an RFP for a state‑sanctioned gold‑backed electronic payment system. Participants agreed to circulate updated bill language and follow up with additional meetings, and staff committed to incorporate the committee's feedback into the final report.
