IL HB0209

Amends the Stock, Commodity, or Options Transaction Tax Exemption Act to allow home rule municipalities with 1,000,000 or more inhabitants to levy a tax on stock, commodity, or options transactions by ordinance beginning January 1, 2020.

Modifies Section 1 to create an exception to the general prohibition on local taxes for stock, commodity, or options transactions for municipalities meeting the population threshold.

Modifies Section 2 to clarify that only home rule municipalities with 1,000,000 or more inhabitants can change provisions related to this tax; municipalities with fewer than 1,000,000 inhabitants remain prohibited from levying such taxes.

Takes effect immediately upon becoming law.