MI HB4086

Creates the Office of the Michigan Bullion Depository within the Department of Treasury to serve as custodian and administrator of gold, silver, and other precious metals transferred to or acquired by the state

Establishes "Michcoin," a state-issued digital currency backed by physical gold and silver held in a pooled depository account, with each unit representing a specific fraction of a troy ounce of gold or silver

Authorizes gold and silver specie and the Michcoin digital currency to be used as legal tender for payment of debts in Michigan, with holders able to redeem digital currency for U.S. dollars or physical precious metals

Creates the Michigan Bullion Depositary Fund to support depository operations, with fee revenue split between the general fund (30%) and the depositary fund (70%)

Prohibits the depository from engaging in derivatives trading, leveraging precious metal holdings, or extending credit, and establishes that deposited bullion and specie are not available for legislative appropriation