On March 13, 2024, Representative Josh Schriver introduced HB-5577 (Text in Bold is what is being added). This bill if passed will amend the "Income Tax Act of 1967" by amending section 30 of the act.

​

(ee) For tax years that begin on and after January 1, 2024, all of the following apply:

(i) Deduct, to the extent included in adjusted gross income, the amount of net capital gain from the sale of exchange of investment coins and bullion.

(ii) Add, to the extent deducted in determining adjusted gross income, the amount of any net capital loss from the sale or exchange of investment coins and bullion.

(iii) As used in this subdivision:

(A) "Bullion" means gold, silver, or platinum in a bulk state, where its value depends on its content rather than its form, with a purity of not less than 900 parts per 1,000.

(B) "Investment coins" means numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, palladium, or other metal and issued by the United States government or a foreign government with a fair market value greater than the face value of the coins.

​

Reach out to Rep. Josh Schriver

Lansing Office

Anderson House Office BuildingS-1085 House Office BuildingLansing, MI 48933

Mailing Address

S-1085 House Office BuildingP.O. Box 30014Lansing, MI 48909

Phone: (517) 373-0839

Email: JoshSchriver@house.mi.gov

​