Eliminates transfer inheritance taxes on brothers and sisters of a decedent.

This bill eliminates inheritance taxes for siblings who inherit property from a deceased person. It directly affects brothers and sisters who receive assets through a decedent's estate, removing a tax that previously applied to such transfers. The law amends New Jersey's tax code to exempt sibling inheritances from the tax rates that were previously in effect (including 11% on amounts up to $1.1 million). This change applies to all sibling inheritances occurring on or after January 1, 2022, and takes effect immediately upon passage.