Illinois 2023-2024 Regular Session

Illinois House Bill HB1051 Compare Versions

Only one version of the bill is available at this time.

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1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1051 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. LRB103 04913 HLH 49923 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1051 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 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. LRB103 04913 HLH 49923 b LRB103 04913 HLH 49923 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1051 Introduced , by Rep. Mary E. Flowers SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 820/1 from Ch. 121 1/2, par. 1001 35 ILCS 820/2 from Ch. 121 1/2, par. 1002 35 ILCS 820/1 from Ch. 121 1/2, par. 1001 35 ILCS 820/2 from Ch. 121 1/2, par. 1002
4	4	35 ILCS 820/1 from Ch. 121 1/2, par. 1001
5	5	35 ILCS 820/2 from Ch. 121 1/2, par. 1002
6	6	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.
7	7	LRB103 04913 HLH 49923 b LRB103 04913 HLH 49923 b
8	8	LRB103 04913 HLH 49923 b
9	9	A BILL FOR
10	10	HB1051LRB103 04913 HLH 49923 b HB1051 LRB103 04913 HLH 49923 b
11	11	HB1051 LRB103 04913 HLH 49923 b
12	12	1 AN ACT concerning local government.
13	13	2 Be it enacted by the People of the State of Illinois,
14	14	3 represented in the General Assembly:
15	15	4 Section 5. The Stock, Commodity, or Options Transaction
16	16	5 Tax Exemption Act is amended by changing Sections 1 and 2 as
17	17	6 follows:
18	18	7 (35 ILCS 820/1) (from Ch. 121 1/2, par. 1001)
19	19	8 Sec. 1. No unit of local government shall levy any tax on
20	20	9 stock, commodity or options transactions, except that,
21	21	10 beginning on January 1, 2024, a home rule municipality with
22	22	11 1,000,000 or more inhabitants may, by ordinance, levy such a
23	23	12 tax.
24	24	13 (Source: P.A. 82-1035.)
25	25	14 (35 ILCS 820/2) (from Ch. 121 1/2, par. 1002)
26	26	15 Sec. 2. No home rule unit, as defined in Article VII of the
27	27	16 Illinois Constitution, other than a home rule municipality
28	28	17 with 1,000,000 or more inhabitants, shall have the power to
29	29	18 change, alter or amend in any way the provisions of Article I
30	30	19 of this Act, and it is declared to be the law of this State,
31	31	20 pursuant to paragraph (g) of Section 6 of Article VII of the
32	32	21 Constitution, that home rule units with a population of less
33	33	22 than 1,000,000 inhabitants shall not have the power to levy
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1051 Introduced , by Rep. Mary E. Flowers SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 820/1 from Ch. 121 1/2, par. 1001 35 ILCS 820/2 from Ch. 121 1/2, par. 1002 35 ILCS 820/1 from Ch. 121 1/2, par. 1001 35 ILCS 820/2 from Ch. 121 1/2, par. 1002
39	39	35 ILCS 820/1 from Ch. 121 1/2, par. 1001
40	40	35 ILCS 820/2 from Ch. 121 1/2, par. 1002
41	41	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.
42	42	LRB103 04913 HLH 49923 b LRB103 04913 HLH 49923 b
43	43	LRB103 04913 HLH 49923 b
44	44	A BILL FOR
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50	50	35 ILCS 820/1 from Ch. 121 1/2, par. 1001
51	51	35 ILCS 820/2 from Ch. 121 1/2, par. 1002
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55	55	LRB103 04913 HLH 49923 b
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68	68	HB1051- 2 -LRB103 04913 HLH 49923 b HB1051 - 2 - LRB103 04913 HLH 49923 b
69	69	HB1051 - 2 - LRB103 04913 HLH 49923 b
70	70	1 any tax on stock commodity or options transactions.
71	71	2 (Source: P.A. 82-1035.)
72	72	3 Section 99. Effective date. This Act takes effect upon
73	73	4 becoming law.
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79	79	HB1051 - 2 - LRB103 04913 HLH 49923 b