Precious Metals Investment and Administration Amendments

HB 67 allows Utah's state treasurer to deduct administrative costs (such as delivery and storage) for precious metal investments directly from the earnings generated by those investments in four specific state funds: the Disaster Recovery Account, General Fund Budget Reserve, Income Tax Fund Budget Reserve, and Medicaid Growth Reduction Account. This change eliminates the need for the state to allocate separate budget funds to cover these costs, as they will now be paid from investment returns. The bill also removes a prior requirement for the state treasurer to conduct a study on precious metals, making it a technical update to investment management rules. The amendment applies to existing investment policies without appropriating new funds.