It is enacted by the General Assembly as follows:

SECTION 1. Sections 44-23-3, 44-23-9, 44-23-12, 44-23-13, 44-23-18 and 44-23-35 of the General Laws in Chapter 44-23 entitled "Estate and Transfer Taxes -- Enforcement and Collection" are hereby amended to read as follows:

{ADD 44-23-3. Extension of time for filing of statement. -- ADD} The tax administrator shall have authority to grant {DEL one DEL} extension {ADD s ADD} of time {DEL of three (3) months DEL} {ADD corresponding to the approved extension granted by the internal revenue service for the filing of the federal form 706 ADD} within which any statement is required to be filed as aforesaid upon written application of the executor, administrator, heir-at-law, or trustee desiring an extension, and it shall be the duty of the executor, administrator, heir-at-law or trustee, as the case may be, to file the statement within the extension of time granted as aforesaid.

{ADD 44-23-9. Assessment and notice of estate tax -- Collection powers -- Lien. -- ADD} The tax imposed by section {DEL 44-22-1 DEL} {ADD 44-22-1.1 ADD} shall be assessed upon the full and fair cash value of the net estate determined by the tax administrator as hereinbefore provided and notice of the amount of the tax shall be mailed to the executor, administrator, or trustee, but failure to receive the notice shall not excuse the nonpayment of or invalidate the tax. The tax administrator shall receive and collect the taxes so assessed in the same manner and with the same powers as are prescribed for and given to the collectors of taxes by chapters 7 to 9, inclusive, of this title and by any acts in amendment thereof or in addition thereto. The tax shall be due and payable as hereinafter provided in section 44-23-16, shall be paid to the tax administrator, and shall be and remain a lien upon the estate until it shall be paid, and all executors, administrators and trustees shall be personally liable for the tax until it is paid.

{ADD 44-23-12. Recording of lien against real estate -- Discharge. -- ADD} Whenever a statement is filed with the tax administrator showing the ownership of real property, the tax administrator shall notify the recorder of deeds or the town clerk of the city or town, as the case may be, in which the real property is located, and the recorder of deeds shall note in the land records of his or her office the decedent's name, and the fact that all real property belonging to the decedent is impressed with a lien under the provisions of this chapter. Upon the discharge of the lien the tax administrator shall send the recorder of deeds a further notice showing the discharge and the manner thereof. The recorder of deeds shall be paid out of any money appropriated for expenses of tax administration, a fee of one dollar and fifty cents ($1.50) for a completed entry.

{ADD 44-23-13. Assessment and notice of transfer tax -- Collection powers -- Lien on property. -- ADD} All taxes imposed by section {DEL 44-22-1 DEL} {ADD 44-22-1.1 ADD} shall be assessed by the tax administrator upon the full and fair cash value of the property transferred at the rates described in chapter 22 of this title and only upon the amount in excess of the exemptions or deductions therein specified, to be paid to the tax administrator, and all executors, administrators, or trustees shall be personally liable for any and all such taxes until they are paid. Notice of the amount of the taxes shall be mailed to the executor, administrator or trustee liable therefor, and upon request made to the tax administrator to any other person by whom the taxes are payable, but failure to receive the notice shall not excuse the nonpayment of or invalidate the taxes; and unless appeal is taken from the assessment, as hereinafter provided, the amount of taxes so assessed shall be final. The tax administrator shall receive and collect the taxes so assessed in the manner and with the powers as are prescribed for and given to the collectors of taxes by chapters 7 to 9, inclusive, of this title. Payment of the amount so certified shall be a discharge of the tax. The taxes shall be and remain a lien upon the property transferred, and upon all property acquired by the executor, administrator or trustee in substitution therefor while that property remains in his or her hands until the taxes are paid, but the lien shall not affect any tangible personal property or intangible personal property after it has passed to a bona fide purchaser for value; provided, however, that nothing herein contained shall give the owner of any securities specified in section 44-23-34 the right to have the securities transferred to the owner by the corporation, association, company or trust issuing the securities, until the permit required by section 44-23-34 shall have been filed as therein provided.

{ADD 44-23-18. Extension of time for payment of additional estate tax. -- ADD} Whenever the tax administrator finds that the payment of the tax imposed by section {DEL 44-22-13 DEL} {ADD 44-22-1.1 ADD} causes undue hardship the administrator may, in his or her discretion, with the approval of the attorney-general and by agreement with the executor, administrator, or trustee, extend the time for payment of the whole or any part of the tax for a period not to exceed four (4) years from the date the tax is due and payable, and may provide for payment in instalments. In that case the amount in respect of which the extension is granted shall be paid, with or without interest, on or before the date of the expiration of the period of the extension.

{ADD 44-23-35. Statement required as to delivery of decedent's property to other than administrator. -- ADD} No person having in possession or under control property forming a part of the estate of a resident decedent, as hereinbefore provided, shall deliver or transfer the property to any person other than the executor, administrator, or trustee of such decedent unless the person making delivery or transfer of the property shall forthwith furnish the tax administrator with a statement under oath describing the property so delivered or transferred together with the name of the person to whom such property is delivered or transferred; provided that any insurance company engaging in the business of writing contracts of insurance in the state of Rhode Island shall notify the tax administrator of the amount of any payment or payments made, or to be made to any person or persons under any insurance contract, as a result of the death of a Rhode Island resident, whenever the total amount of payment or payments made or to be made to such person or persons exceeds {DEL five thousand dollars ($5,000) DEL} {ADD fifty thousand dollars ($50,000) ADD} ; and provided, further, that banks and other institutions having deposits standing in the joint names of two (2) or more persons, or standing in the joint names of two (2) or more persons and payable to either or the survivor or survivors, shall not be required to furnish the statement with respect to such deposits of one thousand dollars ($1,000) or less. In the case of such deposits of over one thousand dollars ($1,000) the bank or other institution, having knowledge of the decease of one of the persons in whose names any such deposit stands, or upon request of the tax administrator, shall, in lieu of the statement furnish a certificate showing the amount of each such deposit together with the names of the persons in whose names the deposit stands. Any person who shall make delivery or transfer without furnishing a statement shall be liable for the amount of any tax which may be assessed on account of the transfer of the property, together with the interest thereon, to be collected in an action to be brought in the name of the tax administrator.

SECTION 2. This act shall take effect upon passage.