Bill Text: IL HB1554 | 2013-2014 | 98th General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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]

Download: Illinois-2013-HB1554-Amended.html

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Rep. Mary E. Flowers

Filed: 3/15/2013

09800HB1554ham001 LRB098 10549 HLH 43133 a
AMENDMENT TO HOUSE BILL 1554
AMENDMENT NO. ______. Amend House Bill 1554 as follows:
on page 2, by deleting lines 15 through 19.