Eliminates the New Jersey Transfer Inheritance Tax and repeals parts of chapters 33 through 37 of Title 54 of the Revised Statutes.

This bill eliminates New Jersey's Transfer Inheritance Tax for estates of decedents dying on or after July 1, 2021. It repeals all remaining tax provisions (sections R.S.54:33-1 through R.S.54:37-8 and related amendments) that imposed taxes on beneficiaries receiving assets from New Jersey residents or certain New Jersey assets from nonresidents. The tax, which had exempted transfers to spouses, ancestors, and descendants but taxed "lateral" transfers (like to siblings) at up to 16%, is fully removed. This change ends New Jersey’s status as one of only six states with an inheritance tax, affecting all beneficiaries of estates meeting the effective date criteria.