The bill amends Sections 44-23-1 and 44-23-2 of the General Laws concerning estate and transfer taxes. It introduces new requirements for executors, administrators, heirs-at-law, and trustees regarding the filing of statements with the municipality of the decedent's residence. Specifically, for estates of decedents who pass away on or after January 1, 2027, these individuals must file a statement under oath indicating that the gross estate's value does not necessitate a state or federal estate tax filing pursuant to 44-22-1.1. Upon recording this statement with the municipality, any estate tax lien will be discharged.

The bill also specifies that for estates of decedents who die on or after January 1, 2027, no fee will be required for filing the necessary statements. The amendments aim to streamline the process for discharging estate tax liens and clarify the obligations of those managing estates and trusts. The act is set to take effect on January 1, 2027.