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HR 3153 111th Congress House Taxation Financial services and investments Sales and excise taxes Securities

Transparent Markets Act of 2009

Introduced: July 9, 2009 Introduced by: Larson, John B. Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 9, 2009
Referred to the House Committee on Ways and Means.
Jul 9, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Transparent Markets Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on over-the-counter derivative transactions. Sets the rate of such tax at 0.25% of the fair market value of the underlying property with respect to, or the notional principal amount of, the derivative financial instrument involved in such transactions. Defines "derivative financial instrument" as any option, forward contract, short position, notional principal contract, credit default swap, or similar financial instrument in any share of corporate stock, interest in a widely held or publicly traded partnership or trust, debt instrument, commodity which is actively traded, foreign currency, or specified index.

What's happening now July 9, 2009

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1