Eliminates transfer inheritance tax for step-grandchildren.

This bill eliminates New Jersey's transfer inheritance tax for step-grandchildren by reclassifying them as tax-exempt beneficiaries, same as biological grandchildren and stepchildren. Currently, step-grandchildren (defined as the children of a stepchild) face a 15% tax on inheritances up to $700,000 and 16% on larger amounts, while biological grandchildren and stepchildren inherit tax-free. The bill amends tax law to treat step-grandchildren identically to stepchildren and biological grandchildren under the exemption rules. This change takes effect January 1, 2025, applying to all future inheritances.