The bill amends Sections 44-23-1 and 44-23-2 of the General Laws concerning estate and transfer taxes, introducing new requirements for executors, administrators, heirs-at-law, and trustees. Specifically, it mandates that these parties file a sworn statement within nine months of a decedent's death, stating that the value of the decedent's gross estate does not require a state or federal estate tax filing. This statement must be recorded with the municipality of the decedent's residence, which will lead to the issuance of a discharge of estate tax lien by the division of taxation.

For estates of decedents who pass away on or after January 1, 2025, no filing fee will be required, whereas a fee of $50 will apply for those who died before this date. The bill also modifies the requirements for trustees, who must file a sworn statement within nine months of the death of the decedent, including similar information regarding the estate's gross value and the necessity of a state or federal estate tax filing. Overall, the act aims to streamline the process of estate tax discharge and clarify the responsibilities of estate representatives.