IL SB1970 | 2017-2018 | 100th General Assembly


Spectrum: Partisan Bill (Democrat 7-0)
Status: Introduced on February 10 2017 - 25% progression
Action: 2017-04-21 - Added as Co-Sponsor Sen. Patricia Van Pelt
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]


Creates the Financial Transaction Tax Act. Imposes a tax on the privilege of engaging in a financial transaction that occurs, is effectuated, consummated, executed, or cleared at a facility located in the State. Provides that the tax is imposed at a rate of $1 per contract for all transactions for which the underlying asset is an agricultural product and $2 per contract for all other contracts. Effective immediately.

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2017-04-21SenateAdded as Co-Sponsor Sen. Patricia Van Pelt
2017-04-05SenateAdded as Co-Sponsor Sen. Iris Y. Martinez
2017-03-16SenateAdded as Chief Co-Sponsor Sen. Ira I. Silverstein
2017-03-15SenateAdded as Co-Sponsor Sen. Daniel Biss
2017-03-14SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
2017-02-28SenateAdded as Co-Sponsor Sen. Cristina Castro
2017-02-10SenateReferred to Assignments
2017-02-10SenateFirst Reading
2017-02-10SenateFiled with Secretary by Sen. Omar Aquino

Illinois State Sources

Bill Comments