"Holocaust Reparations Tax Exemption Act"; exempts value of certain payments to Holocaust survivors and their eligible descendants from transfer inheritance tax.

This bill exempts the value of certain reparations received by Holocaust survivors and their eligible descendants from New Jersey's transfer inheritance tax when those payments are passed to beneficiaries after the survivor's death. It applies to payments made for assets stolen or lost during Nazi persecution (including legal settlements, government reparations, or insurance proceeds), defined as "eligible restitution payments" under the law. The exemption covers the full market value of these payments as determined on the date the survivor received them. This directly benefits Holocaust survivors who received reparations and their descendants who inherit those funds, removing a tax burden on historically significant compensation.