State finance: other; office of the Michigan bullion depository and Michcoin act; create. Creates new act.

This bill proposes the creation of a new state office called the Michigan Bullion Depository within the Department of Treasury to manage gold and silver reserves. If a feasibility study confirms it is practical, the state treasurer would be authorized to issue physical gold and silver coins as legal tender and launch a digital currency backed by these precious metals. The legislation defines specific roles for state officials and private vendors, establishes rules for holding and redeeming these assets, and sets up a system where the digital currency represents a fractional claim on the physical bullion held in trust.