AN ACT RELATING TO TAXATION -- ESTATE AND TRANSFER TAXES -- LIABILITY AND COMPUTATION

HB 7699 eliminates Rhode Island's estate tax by repealing Chapter 44-22 of the General Laws, which previously imposed a progressive tax on inherited property. This affects heirs who would have paid taxes on estates valued above $25,000, removing a state-level tax on property transferred after a person's death. The bill removes all tax rates (ranging from 2% to 9% depending on estate size) and related deductions described in the repealed chapter. As a result, estates passing to heirs in Rhode Island will no longer be subject to this specific state tax.