Bill Text: NJ A684 | 2018-2019 | Regular Session | Introduced

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

Spectrum: Partisan Bill (Republican 9-0)

Status: (Introduced - Dead) 2018-01-09 - Introduced, Referred to Assembly Budget Committee [A684 Detail]

Download: New_Jersey-2018-A684-Introduced.html

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ASSEMBLY, No. 684

STATE OF NEW JERSEY

218th LEGISLATURE

 

PRE-FILED FOR INTRODUCTION IN THE 2018 SESSION

 

 

Sponsored by:

Assemblywoman  DIANNE C. GOVE

District 9 (Atlantic, Burlington and Ocean)

Assemblyman  BRIAN E. RUMPF

District 9 (Atlantic, Burlington and Ocean)

Assemblywoman  NANCY F. MUNOZ

District 21 (Morris, Somerset and Union)

 

Co-Sponsored by:

Assemblymen S.Kean, Space, Webber and Peterson

 

 

 

 

SYNOPSIS

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

 

CURRENT VERSION OF TEXT

     Introduced Pending Technical Review by Legislative Counsel.

  

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    The following are repealed: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.54:33-9.1);

            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);

            section 2 of P.L.1956, c.54 (C.54:35-10.1); 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.