An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, repealing provisions relating to inheritance tax; in procedure and administration, further providing for petition for reassessment; and, in governmental obligations, further providing for taxability of government obligations.

HB 2066 repeals Pennsylvania's inheritance tax system by removing Article XXI ("Inheritance and Estate Tax Act") from the 1971 Tax Reform Code. This eliminates the state-level inheritance tax that would have applied to property transferred upon death. The bill directly affects individuals who would have owed this tax on estates or gifts, removing a layer of state taxation on inherited assets. The repeal is comprehensive, striking the entire framework of definitions, exemptions, and procedures related to inheritance tax from the tax code.