35 ILCS 820/ Stock, Commodity, or Options Transaction Tax Exemption Act.

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35 ILCS 820/0.01

(35 ILCS 820/0.01) (from Ch. 121 1/2, par. 1000)

Sec. 0.01.

Short title.

This Act may be cited as the

Stock, Commodity, or Options Transaction Tax Exemption Act.

(Source: P.A. 86-1324.)

35 ILCS 820/1

(35 ILCS 820/1) (from Ch. 121 1/2, par. 1001)

Sec. 1.

No unit of local government shall levy any tax on stock, commodity
or options transactions.

(Source: P.A. 82-1035.)

35 ILCS 820/2

(35 ILCS 820/2) (from Ch. 121 1/2, par. 1002)

Sec. 2.

No home rule unit, as defined in Article VII of the Illinois
Constitution, shall have the power to change, alter or amend in any
way the provisions of Article I of this Act, and it is declared to be
the law of this State, pursuant to paragraph (g) of Section 6 of
Article VII of the Constitution, that home rule units shall not have
the power to levy any tax on stock commodity or options transactions.

(Source: P.A. 82-1035.)

35 ILCS 820/3

(35 ILCS 820/3)

Sec. 3. Construction of Act.

 Nothing in this Act shall be construed as
prohibiting or
otherwise invalidating any real estate transfer tax or fee authorized
or permitted by
Section 31-10 of the Property Tax Code,
Sections 5-1031 and
						
						5-1031.1 of the Counties
Code,
or
Section 8-3-19 of the Illinois Municipal Code. This Section is intended as a
clarification
and not as a change to existing law.

(Source: P.A. 93-657, eff. 6-1-04; 93-1099, eff. 6-1-05.)