A bill to establish and provide for the issuance of gold and silver specie and digital currency based on gold and silver; to create the office of the Michigan bullion depository in the department of treasury and prescribe its powers and duties; to provide for the powers and duties of certain state and local governmental officers and entities; to impose certain fees; to authorize the issuance of bonds, notes, and other evidences of indebtedness; to provide remedies; and to require the promulgation of rules.
The legislation establishes a system for issuing gold and silver-based currency and digital currency, creates the Michigan Bullion Depository to manage these currencies, and outlines the financial and operational framework, including the creation of a dedicated fund and security measures.
Co-sponsored by Reps.
Referred to the Committee on Communications and Technology
