What does EXCLUSION OF GAIN FROM SALE OF QUALIFIED REAL PROPERTY of Incentivizing Readiness and Environmental Protection Integration Sales Act of 2025 do?

This section amends the Internal Revenue Code of 1986 to exclude gains from the sale of qualified real property interests to qualified organizations for purposes related to the Readiness and Environmental Protection Integration (REPI) program. A 'qualified real property interest' includes the taxpayer's entire interest, a remainder interest, or a perpetual restriction on the use of the property, with a special rule for mineral interests. A 'qualified organization' is defined as having the meaning given by section 170(h)(3). The sale must be pursuant to the REPI program administered by the Department of Defense under section 2684a of title 10, United States Code, to be considered for REPI purposes. A limitation applies to pass-through entities: they cannot exclude gain if they acquired the property within three years of the sale. An exception to the limitation exists for family partnerships or family pass-through entities where substantially all interests are held by an individual and their family. The amendments apply to taxable years beginning after the date of enactment of this Act.

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Incentivizing Readiness and Environmental Protection Integration Sales Act of 2025

Q: What does Preamble of Incentivizing Readiness and Environmental Protection Integration Sales Act of 2025 do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would exclude from gross income gains resulting from the sale of qualified real property interests. These interests were acquired under the Readiness and Environmental Protection Integration (REPI) program. The REPI program is administered by the Department of Defense and operates under section 2684a of title 10, United States Code.

Q: What does SHORT TITLE. of Incentivizing Readiness and Environmental Protection Integration Sales Act of 2025 do?

This bill is formally titled the "Incentivizing Readiness and Environmental Protection Integration Sales Act of 2025".

Last updated: 2/6/2025 · Introduced: 2/6/2025

Author: Ted Budd (R-NC)

TL;DR (AI)

This bill excludes gains from the sale of real property interests acquired through the Department of Defense's Readiness and Environmental Protection Integration (REPI) program from federal income tax.
To qualify, the sale must be to a 'qualified organization' as defined by the Internal Revenue Code and pertain to REPI program purposes.
Pass-through entities are generally ineligible for this exclusion if they acquired the property within three years of the sale, with an exception for family partnerships.

119th Congressin committeeHR. 1083(In Committee)Official page

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Includes provisions on preamble, short title., and 1 more.

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