The bill amends Sections 44-23-1 and 44-23-2 of the General Laws concerning estate and transfer taxes, specifically focusing on the requirements for executors, administrators, heirs-at-law, and trustees. It introduces a new provision that mandates these parties to 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 then allow the division of taxation to issue a discharge of the estate tax lien.

The bill also specifies that the requirements for filing apply to both executors and trustees, and it clarifies the information that must be included in the statements filed by trustees, such as the names and addresses of the beneficiaries of the trust.

Additionally, the bill eliminates the fee for filing statements for estates of decedents who pass away on or after January 1, 2025, while maintaining a $50 fee for those who died prior to this date. Overall, the bill aims to streamline the process of estate tax compliance for estates that do not exceed tax thresholds.