 | Fiscal Note1st Sub. H.B. 195 (Buff) 2026 General Session Precious Metals Amendments by Ivory, Ken |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/ITF/USF (rev.-exp.) | $0 | $(177,200) | $(177,200) |
| Revenues | FY2026 | FY2027 | FY2028 |
| Total Revenues | $0 | $0 | $0 |
Enactment of this legislation likely will not materially impact state revenue.
| Expenditures | FY2026 | FY2027 | FY2028 |
| Restricted Accounts (FN Only) | $0 | $30,400 | $30,400 |
| General Fund, One-time | $0 | $177,200 | $0 |
| Total Expenditures | $0 | $207,600 | $30,400 |
Enactment of this legislation could increase costs to the Division of Finance by $177,200 ongoing from the General Fund beginning in FY 2027 for staff support to develop, integrate, and train people on the new precious metals-backed payment system and rule writing to govern the system. The Department of Government Operations has indicated that it can absorb this cost. Additionally, enactment of this bill could cost the State Treasurer's office $30,400 from the State Treasurer Investment Management Fund ongoing beginning in FY 2027 for staff support to develop and issue a proposal and to continue the precious metals study. The State Treasurer's Office has indicated that it can absorb this cost.
| FY2026 | FY2027 | FY2028 | |
| Net All Funds (rev-exp) | $0 | $(207,600) | $(30,400) |
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
Enactment of this legislation likely will not result in direct expenditures from tax or fee changes for Utah residents and businesses.
Enactment of this legislation likely will not change the regulatory burden for Utah residents or businesses.
This bill creates a new program or significantly expands an existing program.
For a list of questions lawmakers might ask to improve accountability for the proposed
program, please see:
https://budget.utah.gov/newprogram