Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

 Bill Status of SB1970  100th General Assembly


Short Description:  FINANCIAL TRANSACTION TAX

Senate Sponsors
Sen. Omar Aquino - Jacqueline Y. Collins - Ira I. Silverstein, Cristina Castro, Daniel Biss, Iris Y. Martinez and Patricia Van Pelt

Last Action
DateChamber Action
  2/10/2017SenateReferred to Assignments

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/10/2017SenateFiled with Secretary by Sen. Omar Aquino
  2/10/2017SenateFirst Reading
  2/10/2017SenateReferred to Assignments
  2/28/2017SenateAdded as Co-Sponsor Sen. Cristina Castro
  3/14/2017SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  3/15/2017SenateAdded as Co-Sponsor Sen. Daniel Biss
  3/16/2017SenateAdded as Chief Co-Sponsor Sen. Ira I. Silverstein
  4/5/2017SenateAdded as Co-Sponsor Sen. Iris Y. Martinez
  4/21/2017SenateAdded as Co-Sponsor Sen. Patricia Van Pelt

Back To Top