H.R.3313 - Wall Street Trading and Speculators Tax Act112th Congress (2011-2012)
|Sponsor:||Rep. DeFazio, Peter A. [D-OR-4] (Introduced 11/02/2011)|
|Committees:||House - Ways and Means|
|Latest Action:||11/02/2011 Referred to the House Committee on Ways and Means.|
This bill has the status Introduced
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Summary: H.R.3313 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (11/02/2011)
Wall Street Trading and Speculators Tax Act - Amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security: (1) if such purchase occurs on a trading facility located in the United States, or (2) the purchaser or seller is a U.S. person.
Defines "security" to include: (1) stocks, partnership interests, notes, bonds, debentures, or other evidences of indebtedness; and (2) interests in a derivative financial instrument (i.e., any option, forward contract, futures contract, notional principal contract, or any similar financial instrument).
Exempts from such tax: (1) initial issues of securities; (2) any note, bond, debenture, or other evidence of indebtedness which has a fixed maturity of not more than 100 days; and (3) securities traded pursuant to certain lending arrangements.