Bill > HB5128

This bill establishes a legal framework for specie legal tender (gold and silver coins) in Michigan, defining it as United States-issued gold or silver coins, or other gold or silver coins that have been legally recognized through a court judgment or federal law. The bill specifies that specie legal tender is legal tender in the state, and individuals may keep and use such tender, though no one can be compelled to accept it unless specified by contract. Importantly, the bill explicitly excludes central bank digital currencies from being considered legal tender. The legislation also places restrictions on governmental entities, preventing them from seizing specie legal tender from individuals, enforcing laws that infringe on the right to use such tender, restricting its acquisition or use in transactions, or creating laws that discriminate between different forms of legal tender. The bill broadly defines "person" to include individuals, corporations, governmental entities, and other legal entities, ensuring wide applicability of its provisions. By creating these protections, the bill aims to establish and safeguard the use of gold and silver coins as an alternative form of currency in the state.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-5128