US HB1516 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Democrat 31-0)
Status: Introduced on March 5 2019 - 25% progression, died in committee
Action: 2019-03-05 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Imposes a 0.1% excise tax on certain financial transactions such as the purchase of stocks, bonds, and derivatives. The tax applies to the purchase of a security if (1) such purchase occurs on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) the purchaser or seller is a U.S. person. A "security" includes a share of stock in a corporation; a partnership or beneficial ownership interest in a partnership or trust; a note, bond, debenture, or other evidence of indebtedness; and derivatives that meet specified criteria. The tax applies to transactions with respect to a derivative if (1) the derivative is traded on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) any party with rights under the derivative is a U.S. person. The bill exempts from such tax (1) initial issues of securities; and (2) any note, bond, debenture, or other evidence of indebtedness which is traded on or is subject to the rules of, a qualified board or exchange located in the United States, and has a fixed maturity of not more than 100 days. The tax applies to transactions by a controlled foreign corporation and must be paid by its U.S. shareholders.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Wall Street Tax Act of 2019

Sponsors


History

DateChamberAction
2019-03-05HouseReferred to the House Committee on Ways and Means.
2019-03-05HouseIntroduced in House

Same As/Similar To

SB647 (Same As) 2019-03-05 - Read twice and referred to the Committee on Finance.
HB7477 (Related) 2020-07-01 - Referred to the Subcommittee on Trade.

Subjects


US Congress State Sources


Bill Comments

feedback