The bill amends Sections 44-23-1 and 44-23-2 of the General Laws concerning estate and transfer taxes, specifically focusing on the responsibilities of executors, administrators, heirs-at-law, and trustees. It introduces a requirement for 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. Upon recording this statement, the division of taxation will issue a discharge of the estate tax lien.

Additionally, the bill includes a provision for trustees to file similar statements regarding the trust estate within nine months of the decedent's death, ensuring that the necessary information is provided for tax assessment purposes. The act aims to streamline the process of estate tax discharge and clarify the obligations of estate representatives. The bill will take effect upon passage.