Illinois House Bill 4366

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Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on January 9 2026 - 25% progression, died in committee
Action: 2026-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Creates the Billionaire Hedge Fund Fee Act. Imposes a fee on each covered transaction occurring on or after July 1, 2026. Provides that the amount of the fee shall be the base amount with respect to the covered transaction, multiplied by 0.002. Provides that the term "covered transaction" means: (1) the purchase by a United States person of a security if the purchase occurs on, or is subject to the rules of, the Chicago Board Options Exchange or the Chicago Mercantile Exchange; or (2) the purchase by a United States person of a derivative if the derivative is traded on, or is subject to the rules of, the Chicago Board Options Exchange or the Chicago Mercantile Exchange. Specifies that, for purposes of the Act, "United States person" includes controlled foreign corporations, hedge funds, and private equity funds and their officers and employees. Exempts from the provisions of the Act the purchase of a security or a derivative by an individual for that individual's personal investment account or personal investment portfolio. Provides that the proceeds from the tax imposed under the Act shall be deposited into the Reducing the Cost of Living Fund. Amends the Illinois Administrative Procedure Act. Grants emergency rulemaking powers to the Department of Revenue. Amends the State Finance Act. Create the Reducing the Cost of Living Fund. Effective immediately.

BILLIONAIRE HEDGE FUND FEE ACT

Rep. Hoan Huynh [D]

Date	Chamber	Action
2026-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2026-03-12	House	Assigned to Revenue & Finance Committee
2026-01-14	House	Referred to Rules Committee
2026-01-14	House	First Reading
2026-01-09	House	Filed with the Clerk by Rep. Hoan Huynh

Chapter	Article	Section	Citation Type	Statute Text
30	105	5.1038	New Code	See Bill Text
5	100	5-45.71	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/Legislation/BillStatus?DocNum=4366&GAID=18&DocTypeID=HB&SessionID=114&GA=104
Text	https://www.ilga.gov/Legislation/BillStatus/FullText?LegDocId=206272&DocName=10400HB4366&DocNum=4366&DocTypeID=HB&LegID=164924&GAID=18&SessionID=114&SpecSess=&Session=