S439Referred to Committee

Incentivizing Readiness and Environmental Protection Integration Sales Act of 2025

Introduced

In Committee

Passed One Chamber

Passed Both

Signed into Law

119th

Congress

2025-02-06

Introduced

Cosponsors

ⓘ

Type

Sponsor

Ted Budd

Republican · NC · Senator

Votes with party: 32.5% (317 recorded votes)

Full profile: /officials/B001305

Source: Congress.gov · FEC

Cosponsors (5)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Finance.

2025-02-06

Source: Congress.gov

Committee Activity

Previously

Finance CommitteeReferred To · 2025-02-06
Senate Committee on FinanceReferred To · 2025-02-06

Plain-English Summary

Incentivizing Readiness and Environmental Protection Integration Sales Act of 2025 This bill excludes the gain from the sale of a qualified real property interest under the Readiness and Environmental Protection Integration (REPI) Program from gross income for federal tax purposes. (Some limitations apply.) As background, the REPI Program supports cost-sharing agreements between the Armed Forces, other federal agencies, state and local governments, and certain private organizations to address land use near military installations, address environmental restrictions that limit military activities, and increase military installation resilience. Under the bill, the exclusion from gross income applies to gain from the sale of a real property interest (pursuant to an agreement under the REPI Program) to a state or U.S. possession (or a political subdivision of a state or U.S. possession) or the District of Columbia; the United States; certain corporations, trusts, community chest, funds, or foundations; or certain charitable organizations. Further, under the bill, the real property interest that is sold may be (1) the entire interest in the real property, (2) a remainder interest in the real property, or (3) a restriction on the use of the real property (e.g., easement) that is granted in perpetuity and created under state law. However, the bill limits such exclusion from gross income for a partnership or other pass-through entity (other than a family partnership or family pass-through entity) to gain from the sale of a real property interest that is held for at least three years.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Taxation

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Open text view Read on Congress.gov

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