IL HB3548 | 2011-2012 | 97th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Creates the Financial Transaction Tax Act. Beginning September 1, 2011, 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.
Title
REVENUE-FINANCIAL TRANSACTION
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2013-01-08 | House | Session Sine Die |
| 2011-03-17 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2011-03-01 | House | Assigned to Revenue & Finance Committee |
| 2011-02-24 | House | Referred to Rules Committee |
| 2011-02-24 | House | First Reading |
| 2011-02-24 | House | Filed with the Clerk by Rep. Mary E. Flowers |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3548&GAID=11&DocTypeID=HB&SessionID=84&GA=97 |
| Text | https://www.ilga.gov/legislation/97/HB/09700HB3548.htm |
