Bill Status of SB1970 100th General Assembly
Short Description: FINANCIAL TRANSACTION TAX
Sen. Omar Aquino - Jacqueline Y. Collins - Ira I. Silverstein, Cristina Castro, Daniel Biss, Iris Y. Martinez and Patricia Van Pelt
| 1/9/2019||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
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.