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.

Bill 119 s 439, 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 in accordance with section 2684a of title 10, United States Code.

The main purpose of this bill is to provide a tax benefit 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 a tax benefit to those who participate in the program.