Eliminates transfer inheritance taxes on brothers and sisters of a decedent.

This bill eliminates inheritance taxes on property transferred to brothers or sisters of a deceased person (decedent). Previously, such transfers were taxed at rates up to 16% depending on the amount inherited. The amendment specifically removes this tax for all sibling inheritances occurring on or after January 1, 2022, by updating New Jersey's tax code (R.S.54:34-2). It directly affects siblings who inherit property from a deceased relative, making those inheritances tax-free under this provision.