A bill to amend the Internal Revenue Code of 1954 to exclude from the gross estate of any individual benefits payable under certain State judicial plans, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from the gross estate of an individual the value of an annuity under a qualified State judicial plan or any benefits payable thereunder. Defines "qualified State judicial plan" as a compulsory defined benefit plan for the exclusive benefit of elected judges or their beneficiaries. Provides that the designation of a beneficiary under a State judicial plan shall not be considered a transfer of property for purposes of the gift tax.…