Sponsored Legislation
Individual income tax: deductions; capital gains from sale or exchange of investment coins and bullion; provide for. Amends sec. 30 of 1967 PA 281 (MCL 206.30). TIE BAR WITH: HB 5129'25, HB 5130'25
HB 5131 would exclude from Michigan taxable income the capital gains from selling investment coins and bullion, lowering taxes for precious-metals investors.
Administrative procedure: rules; requirement to eliminate regulations; provide for. Amends sec. 39 of 1969 PA 306 (MCL 24.239).
State finance: other; specie legal tender act; enact. Create new act.
Financial institutions: banking practices; use of central bank digital currency; prohibit. Creates new act.
HB 5133 bans Michigan state/local governments from accepting or requiring CBDC as legal tender and lets individuals sue for violations, with treble damages.