UT HB0405

Establishes a 0.5% administrative fee on state cooperative procurement contracts with public entities, with revenue deposited into a newly created State Purchasing Reserve Restricted Account within the General Fund

Directs the state treasurer to invest all money in the account in precious metals, with the account also funded by any appreciated value of those investments

Authorizes the Legislature to appropriate money from the account only when the Chained Consumer Price Index is at least two standard deviations above its 15-year mean

Appropriations must be used to offset procurement costs for public entities and ensure continuity of goods and services procurement during high inflation periods

Takes effect May 6, 2026, with the administrative fee applying only to contracts posted on or after July 1, 2026