State finance: other; specie legal tender act; enact. Create new act.

HB 5128, the "Specie Legal Tender Act," would make gold and silver coins issued by the U.S. government (or other gold/silver coins legally recognized under specific court rulings or federal law) legal tender in Michigan. It grants individuals the right to keep, use, and acquire these coins without interference, while prohibiting state entities from seizing them, enforcing laws that restrict their use, or favoring one form of payment over another. The bill explicitly states that central bank digital currency (like digital dollars) would not be considered legal tender under this act. This directly affects all Michigan residents and businesses by establishing legal protections for physical precious metal coins in transactions. The bill is currently in committee referral after its introduction on October 23, 2025.