The Utah Legislature passed H.B. 348 Precious Metals Amendments during the 2024 Legislative Session authorizing the state treasurer to invest up to 10% of the State’s rainy day funds in precious metals. It also requires the state treasurer to:
a) Conduct a study analyzing the role of precious metals in augmenting, stabilizing, and ensuring the economic security and prosperity of the state, the families and residents of the state, and businesses in the state; and
b) Submit to the Revenue and Taxation Interim Committee on or before the committee's 2024 October interim committee meeting any recommendations for legislation resulting from the outcome of the study.
CLICK HERE or on the button below to download the study.
Workgroup Members
Treasurer Marlo Oaks, CFA, CAIA
State Treasurer of Utah
Representative Ken Ivory
Utah House of Representatives
Representative Jefferson Moss
Utah House of Representatives
Representative Keven Stratton
Utah House of Representatives
Senator Kirk Cullimore
Utah Senate
Dan Burton
Utah Office of Attorney General
Christian Chelak
Office of U.S. Senator Mike Lee
Gary Crittenden
Private Investor, Former CFO of Citi & Former CFO of American Express
Sophia DiCaro
Governor’s Office of Planning and Budget
Kevin Freeman, CFA
Investment Manager & Economist
Hugh Hannesson
Fintech Executive
Howard Headlee
President of Utah Bankers Association
Randal Quarles
Chairman of Cynosure Group & Former Vice Chair of the Federal Reserve