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.

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.