Illinois HB4366 imposes a fee on certain financial transactions by hedge funds and private equity funds on the Chicago Board Options Exchange or the.
HB4366, known as the Billionaire Hedge Fund Fee Act, imposes a fee on transactions involving securities or derivatives by United States persons, including hedge funds and private equity funds, on the Chicago Board Options Exchange or the Chicago Mercantile Exchange. The fee is set at 0.002 times the base amount of the transaction. Exemptions include personal investment accounts and certain short-term debt instruments.
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