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Incentivizing Readiness and Environmental Protection Integration Sales Act of 2024
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.
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.
Read the Full Bill
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
Total Number of Sponsors
2Democrat Sponsors
0Republican Sponsors
2Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy 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.
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.
Comments
Theo Wilson
788
1 year ago
I think this new bill is gonna help out a lot of folks, but I wonder how it's gonna play out in the long run. What do you think?
Sponsors and Cosponsors of S 5409
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