Summary as Introduced
Creates the Financial Transaction Tax Act. Imposes a tax on the privilege of engaging in financial transactions involving the financial assets of a hedge fund on any of the following exchanges or boards of trade: the Chicago Stock Exchange; the Chicago Mercantile Exchange; the Chicago Board of Trade; or the Chicago Board Options Exchange. Provides that the tax is imposed at a rate of $0.002 for every $1 of value traded. Effective immediately.