Bill Text: IL HB0209 | 2019-2020 | 101st General Assembly | Introduced


Bill Title: Amends the Stock, Commodity, or Options Transaction Tax Exemption Act. Provides that a home rule municipality with 1,000,000 or more inhabitants may, by ordinance, levy a tax on stock, commodity or options transactions. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee [HB0209 Detail]

Download: Illinois-2019-HB0209-Introduced.html


101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB0209

Introduced , by Rep. Mary E. Flowers

SYNOPSIS AS INTRODUCED:
35 ILCS 820/1 from Ch. 121 1/2, par. 1001
35 ILCS 820/2 from Ch. 121 1/2, par. 1002

Amends the Stock, Commodity, or Options Transaction Tax Exemption Act. Provides that a home rule municipality with 1,000,000 or more inhabitants may, by ordinance, levy a tax on stock, commodity or options transactions. Effective immediately.
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A BILL FOR

HB0209LRB101 04706 HLH 49715 b
1 AN ACT concerning local government.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Stock, Commodity, or Options Transaction Tax
5Exemption Act is amended by changing Sections 1 and 2 as
6follows:
7 (35 ILCS 820/1) (from Ch. 121 1/2, par. 1001)
8 Sec. 1. No unit of local government shall levy any tax on
9stock, commodity or options transactions, except that,
10beginning on January 1, 2020, a home rule municipality with
111,000,000 or more inhabitants may, by ordinance, levy such a
12tax.
13(Source: P.A. 82-1035.)
14 (35 ILCS 820/2) (from Ch. 121 1/2, par. 1002)
15 Sec. 2. No home rule unit, as defined in Article VII of the
16Illinois Constitution, other than a home rule municipality with
171,000,000 or more inhabitants, shall have the power to change,
18alter or amend in any way the provisions of Article I of this
19Act, and it is declared to be the law of this State, pursuant
20to paragraph (g) of Section 6 of Article VII of the
21Constitution, that home rule units with a population of less
22than 1,000,000 inhabitants shall not have the power to levy any

HB0209- 2 -LRB101 04706 HLH 49715 b
1tax on stock commodity or options transactions.
2(Source: P.A. 82-1035.)
3 Section 99. Effective date. This Act takes effect upon
4becoming law.
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