S 5409
Incentivizing Readiness and Environmental Protection Integration Sales Act of 2024
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Bill overview
This bill, the Incentivizing Readiness and Environmental Protection Integration Sales Act of 2024, aims to provide tax benefits to individuals who sell real property acquired through the Department of Defense’s Readiness and Environmental Protection Integration (REPI) program. Specifically, it excludes gains from the sale of ‘qualified real property interests’ – such as entire ownerships or remainder interests – from an individual’s gross income. The bill includes limitations to prevent immediate resale benefits and exceptions for family-owned partnerships.
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