Sec. 7. Tax on securities transactions
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Chapter 36 of the Internal Revenue Code of 1986 is amended by inserting after subchapter B the following new subchapter: Sec. 4475. Tax on securities transactions. There is hereby imposed a tax on each covered securities transaction an amount equal to 0.25 percent of the value of the security involved in such transaction. The tax imposed by this section shall be paid by the trading facility on which the transaction occurs. The term covered securities transaction means— any transaction to which subsection (b), (c), or
(d)of section 31 of the Securities Exchange Act of 1934 applies, and any transaction subject to the exclusive jurisdiction of the Commodity Futures Trading Commission. The Secretary shall carry out this section in consultation with the Securities and Exchange Commission and the Commodity Futures Trading Commission. . The table of subchapters for chapter 36 of such Code is amended by inserting after the item relating to subchapter B the following new item: Subchapter C. Tax on securities transactions. . The amendments made by this subsection shall apply to sales occurring more than 30 days after the date of the enactment of this Act.