Incentivizing Readiness and Environmental Protection Integration Sales Act of 2024

Hozzl · 2024-12-31T01:53:17Z

Explore the details of Senate Bill 5409 Incentivizing Readiness and Environmental Protection Integration Sales Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

12/31/2024, 1:53 AM

Summary of Bill S 5409

Bill 118 s 5409, also known as the REPI Program Exclusion Act, aims to amend the Internal Revenue Code of 1986 to exclude from gross income any gain from the sale of qualified real property interests acquired under the authority of the Readiness and Environmental Protection Integration (REPI) program. This program is administered by the Department of Defense pursuant to section 2684a of title 10, United States Code.

The main purpose of this bill is to provide tax relief to individuals or entities who sell real property interests that were acquired through the REPI program. By excluding the gain from the sale of these properties from gross income, the bill aims to incentivize participation in the program and promote environmental protection efforts on military installations.

Overall, the REPI Program Exclusion Act seeks to support the Department of Defense in its efforts to protect natural resources and enhance military readiness, while also providing financial benefits to those who participate in the program.

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Current Status of Bill S 5409

Bill S 5409 is currently in the status of Bill Introduced since December 3, 2024. Bill S 5409 was introduced during Congress 118 and was introduced to the Senate on December 3, 2024. Bill S 5409's most recent activity was Read twice and referred to the Committee on Finance. as of December 3, 2024

Bipartisan Support of Bill S 5409

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Policy Area and Potential Impact of Bill S 5409

Primary Policy Focus

Alternate Title(s) of Bill S 5409

A bill to amend the Internal Revenue Code of 1986 to exclude from gross income gain from the sale of qualified real property interests acquired under the authority of the Readiness and Environmental Protection Integration (REPI) program administered by the Department of Defense pursuant to section 2684a of title 10, United States Code, and for other purposes.