Comments: IL SB1970 | 2017-2018 | 100th General Assembly

Bill Title: 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.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced) 2017-04-21 - Added as Co-Sponsor Sen. Patricia Van Pelt [SB1970 Detail]

Text: Latest bill text (Introduced) [HTML]

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