Illinois General Assembly - Bill Status for HB3548
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 Bill Status of HB3548  97th General Assembly


Short Description:  REVENUE-FINANCIAL TRANSACTION

House Sponsors
Rep. Mary E. Flowers

Last Action
DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/24/2011HouseFiled with the Clerk by Rep. Mary E. Flowers
  2/24/2011HouseFirst Reading
  2/24/2011HouseReferred to Rules Committee
  3/1/2011HouseAssigned to Revenue & Finance Committee
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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