Bill Title: Creates the Financial Transaction Tax Act. Beginning September 1, 2013, imposes a tax on the privilege of engaging in a financial transaction on any of the following exchanges or boards of trade: the Chicago Stock Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade, and the Chicago Board Options Exchange. Provides that the tax is imposed at a rate of 0.01% of the value of the transaction. Provides that the term "financial transaction" means a transaction involving the purchase or sale of a stock contract, futures contract, swap contract, credit default swap contract, or options contract, but does not include a transaction involving securities held in a retirement account or a transaction involving a mutual fund. Effective immediately.
Spectrum: Partisan Bill (Democrat 7-0)
Status: (Failed) 2014-12-03 - Session Sine Die
[HB1554 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|
| Amended | 2013-03-19 | HTML/Text | Link | View |
| Amended | 2013-03-15 | HTML/Text | Link | View |
| Introduced | 2013-02-13 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois HB1554 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois HB1554 currently on file. |
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