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Bill > HB5130
MI HB5130
MI HB5130Use tax: exemptions; exemptions for the sale of investment coins and bullion; modify. Amends sec. 4u of 1937 PA 94 (MCL 205.94u). TIE BAR WITH: HB 5131'25, HB 5129'25
summary
Introduced
10/23/2025
10/23/2025
In Committee
10/23/2025
10/23/2025
Crossed Over
Passed
Dead
Introduced Session
103rd Legislature
Bill Summary
A bill to amend 1937 PA 94, entitled"Use tax act,"by amending section 4u (MCL 205.94u), as added by 1999 PA 225.
AI Summary
This bill amends Michigan's Use Tax Act to expand the existing tax exemption for investment coins and bullion. Currently, the law exempts investment coins and bullion from use tax, and the bill adds a new provision effective January 1, 2026, that broadens the definition of bullion to include leaf, foil, or film of gold, silver, or platinum with at least 50% metallic content, even if contained in a transparent polymer holder. The expanded definition applies specifically to items used as currency but not considered legal tender by the United States or foreign governments. The bill defines investment coins as numismatic coins or legal tender made of precious metals with a fair market value exceeding their face value, issued by governments. Additionally, the bill's implementation is contingent upon the passage of two related House Bills (HB 5131 and HB 5129), meaning this legislation will only take effect if those companion bills are also enacted into law.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Bill Electronically Reproduced 10/23/2025 (on 10/28/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-5130 |
| BillText | https://legislature.mi.gov/documents/2025-2026/billintroduced/House/htm/2025-HIB-5130.htm |
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