SB 941 Summary

• Repeals Connecticut's succession tax and related chapters 216-217 provisions effective from passage, eliminating all successor and transfer taxes on estates.

• Creates a petition process allowing property owners to release decade-old probate and estate tax liens by filing with Probate Court, submitting an affidavit, and paying applicable fees and a $200 administrative fee to the Department of Revenue Services.

• Removes references to "succession taxes" from various state bonding and revenue statutes to reflect the tax's repeal, while maintaining "estate taxes" under federal law provisions.

• Eliminates references to succession tax calculations in probate fee determinations and modifies estate settlement fee bases to use only inventory, Connecticut taxable estate, or federal gross estate valuations.

• Prohibits refunds for any succession tax payments made prior to October 1, 2018, or probate fees previously calculated using succession tax gross estate values.