SENATE, No. 213

 

STATE OF NEW JERSEY

 

Introduced Pending Technical Review by Legislative Counsel

 

PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION

 

 

By Senators CONNORS and BASSANO

 

 

An Act eliminating the inheritance tax and repealing chapters 33 through 37 of Title 54 of the Revised statutes.

 

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

    1. The following are repealed:

            R.S.54:33-1 through R.S.54:33-12;

            R.S.54:34-1 through R.S.54:34-13;

            R.S.54:35-1 through R.S.54:35-22;

            R.S.54:36-1 through R.S.54:36-7;

            R.S.54:37-1 through R.S.54:37-8;

            section 1 of P.L.1940, c.220 (C.54:33-13);

            section 2 of P.L. 1985, c.57 (C.54:33-14);

            section 1 of P.L.1955, c.135 (C.54:34-1.1);

            section 4 of P.L.1978, c.172 (C.54:35-4.1);

            sections 1 and 2 of P.L.1947, c.369 (C.54:35-5.1 and

                        54:35-5.2); and

            section 1 of P.L.1939, c.122 (C.54:35-23).

 

    2. This act shall take effect immediately.

 

 

STATEMENT

 

    This bill repeals the inheritance tax and the applicable sections of law. This legislation would remove the inheritance tax on Class C. and D. beneficiaries. A Class C beneficiary is a brother, sister, son-in-law or daughter-in-law. Class D beneficiaries are all others. The other classes have been exempted over the years.

 

 

Eliminates the New Jersey inheritance tax and repeals chapters 33 through 37 of Title 54 of the Revised Statutes.