Bill > S439

This bill amends the Internal Revenue Code to create a tax benefit for property owners who sell land to support the Readiness and Environmental Protection Integration (REPI) program, which is a Department of Defense initiative designed to help protect military training and testing capabilities by purchasing land or conservation easements around military installations. Specifically, the bill would exclude from gross income any gains from selling qualifying real property interests to a qualified organization for REPI purposes, such as selling the entire property, a remainder interest, or a perpetual use restriction. The bill includes several important limitations: for pass-through entities like partnerships, the property cannot have been acquired through a sale within the past three years, with an exception for family-owned partnerships where substantially all interests are held by an individual and their family members. The tax exclusion applies to sales that are directly related to the REPI program's goal of preserving military readiness by protecting surrounding lands from incompatible development. The bill would take effect for taxable years beginning after its enactment, providing a new financial incentive for landowners to participate in environmental conservation efforts around military bases.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/439/all-info