The proposed bill, titled the "Central Bank Digital Currency Prevention Act," aims to prohibit the use, offer, and acceptance of central bank digital currency (CBDC) as legal tender within the state of Michigan. It defines CBDC as a digital currency issued by various federal and foreign entities that is directly available to consumers. The bill explicitly states that governmental entities are not allowed to accept CBDC as legal tender, require it for any services or payments, or advocate for its adoption by the U.S. government.

Additionally, the bill provides a legal remedy for individuals who suffer losses due to violations of this act. Affected persons can file a civil action against the governmental entity responsible for the violation and, if successful, are entitled to recover damages amounting to three times their actual losses. This provision aims to ensure accountability and deter governmental entities from engaging in practices that would support the use of CBDC as legal tender.