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NJ A316

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Paul Kanitra

Click for details

Origin

General Assembly

2026-2027 Regular Session

AI Summary

  • Amends New Jersey's Transfer Inheritance Tax Act (R.S.54:34-2.1) to treat step-grandchildren the same as biological grandchildren and stepchildren for inheritance tax purposes

  • Step-grandchildren would be reclassified from Class D beneficiaries to Class A beneficiaries, exempting them from all transfer inheritance tax

  • Currently, step-grandchildren face a 15% tax on inherited property up to $700,000 and 16% on amounts exceeding that threshold

  • Effective date is January 1, 2025

Legislative Description

Eliminates transfer inheritance tax for step-grandchildren.

Regulated Professions

Last Action

Introduced, Referred to Assembly Regulated Professions Committee

1/13/2026

Committee Referrals

Regulated Professions1/13/2026

Full Bill Text

No bill text available