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]

Text: Latest bill text (Amended) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Mary Flowers [D]	Primary	Sponsored Bills	HD-031	FollowTheMoney	Ballotpedia	VoteSmart
Representative Linda LaVia [D]	Cosponsor	Sponsored Bills	HD-083	FollowTheMoney	Ballotpedia	VoteSmart
Representative Barbara Currie [D]	Cosponsor	Sponsored Bills	HD-025	FollowTheMoney	Ballotpedia	VoteSmart
Representative LaShawn Ford [D]	Cosponsor	Sponsored Bills	HD-008	FollowTheMoney	Ballotpedia	VoteSmart
Representative Naomi Jakobsson [D]	Cosponsor	Sponsored Bills	HD-103	FollowTheMoney	Ballotpedia	VoteSmart
Representative Esther Golar [D]	Cosponsor	Sponsored Bills	HD-006	FollowTheMoney	Ballotpedia	VoteSmart
Representative Gregory Harris [D]	Cosponsor	Sponsored Bills	HD-013	FollowTheMoney	Ballotpedia	VoteSmart

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