Utah bill to allow vendors to be paid in gold and silver
Bill HB306, now awaiting signature from Governor Spencer Cox, authorizes the state treasurer to issue a competitive procurement for a precious metals-backed electronic payment platform. This will allow state vendors to opt for payment in physical gold and silver.
Rep. Kenneth Ivory sponsored Bill HB306, and Sen. Keith Grover pushed the legislation through the Senate. The state politicians noted that the legislation is the latest evolution in Utah’s stance in favor of sound money.
“In uncertain economic times, Utah is providing vendors and service providers with the option to receive payment in gold and silver,” Rep. Ivory said. “This law gives Utahns an alternative to choose how they preserve the purchasing power of their earnings and savings.”
Source – KITCO News
