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HB 5128

AN ACT RELATING TO ANIMALS AND ANIMAL HUSBANDRY -- CRUELTY TO ANIMALS

2025 Regular Session Introduced by David Bennett and 9 co-sponsors

The bill would recognize certain gold and silver coins or bullion as state legal tender, while explicitly excluding central bank digital currencies.

03/04/2025 Committee recommended measure be held for further study
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WeVote Research Nonpartisan
Bill Summary · HB 5128

Summary — HB 5128: "Specie Legal Tender Act"

Bill number: HB 5128
Title: State finance: other; specie legal tender act; enact. Create new act.
Introduced: March 13, 2025 (filed); later reproduced/introduced Oct 23, 2025
Current status (document): bill electronically reproduced 10/23/2025; referred to Committee on Finance on 10/23/2025.
Companion: SB 2070

Purpose / intent

The bill would establish a statutory regime recognizing gold and silver “specie” as legal tender in Michigan, create related private rights to hold and use such specie, and constrain state and local governmental actions regarding specie. It also expressly excludes central bank digital currencies from state legal-tender status.

Key provisions

  • Definitions (Sec. 2)

    • “Person” is broadly defined to include individuals, corporations, LLCs, partnerships, governmental entities and other legal entities.
    • “Specie legal tender” means:
    • United States-issued gold or silver coin; or
    • Other gold or silver coin or bullion, but only if (a) a court issues a final, unappealable order recognizing that coin/bullion as legal tender in the state, or (b) a federal law either makes it legal tender or permits the state to recognize it as legal tender.
    • Explicit exclusion: central bank digital currency (CBDC) is not specie legal tender.

  • Legal-tender status and private use (Sec. 3)

    • Declares specie legal tender to be legal tender in the state.
    • Individuals and entities may keep and use specie legal tender.
    • Except when parties contract otherwise, no person may compel another to tender or accept specie legal tender (i.e., the bill does not create an affirmative right to force acceptance in private transactions).

  • Constraints on governmental entities (Sec. 4)

    • Prohibits governmental entities from, except as otherwise authorized by law, seizing specie legal tender owned by a person.
    • Prohibits enforcement of laws that would infringe a person’s right to keep and use specie legal tender.
    • Prohibits restrictions on acquiring or using specie legal tender in transactions.
    • Prohibits enacting or enforcing laws that discriminate among means of legal tender in transactions (i.e., favoring one means of payment over another).

Who would be affected

  • Individuals and businesses holding or wishing to transact in gold/silver coins or bullion.
  • State and local government agencies, law enforcement, and courts (constraints on seizure and enforcement).
  • Financial institutions and merchants (clarifies but does not force acceptance; impacts contracting and payment policies).
  • Excludes CBDCs explicitly, so state-level recognition of any federal CBDC is barred by this text.

Procedural / timeline notes

  • Filed March 13, 2025; read first time April 7, 2025; referred to Judiciary & Civil Jurisprudence; public hearing April 24, 2025 (left pending).
  • Bill later reproduced and reintroduced/recorded Oct 23, 2025 and referred to the House Committee on Finance.

Potential implementation and legal considerations (non-exhaustive)

  • The bill recognizes certain gold/silver instruments as state legal tender but does not force private acceptance absent contract—so its practical effect on day-to-day transactions may be limited.
  • It preserves existing statutory exceptions by allowing seizure “except as otherwise authorized by law.”
  • Possible legal questions could arise about federal preemption (federal legal-tender rules, coinage powers, or other federal statutes) and interaction with federal currency law; the bill itself references federal action or court orders as conditions for recognizing non‑U.S. coins/bullion.
  • Exclusion of CBDCs makes clear legislative opposition to state recognition of central bank digital currencies.

If you’d like, I can draft a one-page explainer for merchants, banks, or state agencies summarizing operational changes they should consider under this bill.

Compiled from official sources — confirm details with the bill’s official record.

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