- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Ways and MeansIntroducedJuly 9th, 2009
- house Committees
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Transparent Markets Act of 2009
To amend the Internal Revenue Code of 1986 to impose a tax on over-the-counter derivatives transactions, and for other purposes.
Transparent Markets Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on over-the-counter derivative transactions. Sets the rate of such tax at 0.25% of the fair market value of the underlying property with respect to, or the notional principal amount of, the derivative financial instrument involved in such transactions. Defines "derivative financial instrument" as any option, forward contract, short position, notional principal contract, credit default swap, or similar financial instrument in any share of corporate stock, interest in a widely held or publicly traded partnership or trust, debt instrument, commodity which is actively traded, foreign currency, or specified index.