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 trigger the issuance of a discharge of estate tax lien by the division of taxation.

Additionally, the bill includes a provision that, notwithstanding the requirements set forth in this section, trustees must also file a similar statement within nine months after the death of the decedent.

The bill does not modify the fee structure associated with these filings; however, it specifies that estates of decedents who passed away before January 1, 2025, will incur a filing fee of $50, while estates of decedents who die on or after that date will not incur any fees.

This act will take effect upon passage.