IL HB0023 | 2019-2020 | 101st General Assembly


Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on January 9 2019 - 25% progression
Action: 2020-05-22 - Added Co-Sponsor Rep. Edgar Gonzalez, Jr.
Pending: House Sales, Amusement & Other Taxes Committee
Text: Latest bill text (Introduced) [HTML]


Creates the Financial Transaction Tax Act. Beginning January 1, 2020, 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; or the Chicago Board Options Exchange. Provides that the tax is imposed at a rate of $1 per transaction for all transactions for which the underlying asset is an agricultural product, a financial instruments contract, or an options contract. Provides that transactions executed via open outcry that are physically filled on the exchange floor are exempt from the tax. 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 January 1, 2020.

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.





2020-05-22HouseAdded Co-Sponsor Rep. Edgar Gonzalez, Jr.
2020-02-27HouseTo Sales, Amusement & Other Taxes Subcommittee
2020-02-18HouseAssigned to Revenue & Finance Committee
2019-04-10HouseAdded Chief Co-Sponsor Rep. Delia C. Ramirez
2019-03-29HouseRule 19(a) / Re-referred to Rules Committee
2019-02-07HouseTo Sales, Amusement & Other Taxes Subcommittee
2019-02-01HouseAdded Chief Co-Sponsor Rep. Gregory Harris
2019-01-29HouseAssigned to Revenue & Finance Committee
2019-01-09HouseReferred to Rules Committee
2019-01-09HouseFirst Reading
2018-11-30HousePrefiled with Clerk by Rep. Mary E. Flowers

Code Citations

ChapterArticleSectionCitation TypeStatute Text
51005-45Amended CodeCitation Text

Illinois State Sources

Bill Comments