It is known as Senate Bill 63: Michigan firearms freedom act
It is a Republican introduces bill to, among other things, limit the reach of the Federal Government when it comes to Firearms. The catch is, all of the Firearms covered under this would have to remain inside of Michigan. Any Interstate movement of these Firearms may then fall under the purview of the Federal Governments rules and regulations.
So, sure, you will be able to own and carry a fully automatic 100 round capacity pistol built and sold in Michigan, but if you take it to Toledo with you, hoo boy, look out.