State finance: other; strategic bitcoin reserve; establish. Amends sec. 351 of 1984 PA 431 (MCL 18.1351) by adding sec. 351a.

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Plain-English Summary

This bill allows the state treasurer to invest money from the general fund and the countercyclical budget and economic stabilization fund in cryptocurrency. The treasurer cannot invest more than 10% of each fund's available money in cryptocurrency. The bill also outlines how cryptocurrency payments to the state will be handled and how the state will hold these digital assets.

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