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Tax exemption for land sales supporting defense and environment.

This act amends tax laws to allow property owners to avoid paying tax on gains from selling land if it's for defense readiness and environmental protection programs. The goal is to encourage cooperation with the Department of Defense to protect areas around military bases. These changes could affect individuals owning property near military facilities, offering them potential financial benefits.
Key points
Exclusion from gross income for gains from selling qualified real property for REPI (Readiness and Environmental Protection Integration) purposes.
Applies to sales of land to organizations working with the Department of Defense for environmental protection and military readiness.
Exception if the property was acquired within 3 years of the sale, unless it's a family-owned entity.
Changes apply to tax years beginning after the act's enactment date.
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Introduced
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Additional Information
Print number: 119_HR_1083
Sponsor: Rep. Murphy, Gregory F. [R-NC-3]
Process start date: 2025-02-06
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Incentivizing Readiness and Environmental Protection Integration Sales Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1083.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-02-06.

What are the main provisions?

Key points include:

  • Exclusion from gross income for gains from selling qualified real property for REPI (Readiness and Environmental Protection Integration) purposes.
  • Applies to sales of land to organizations working with the Department of Defense for environmental protection and military readiness.
  • Exception if the property was acquired within 3 years of the sale, unless it's a family-owned entity.
  • Changes apply to tax years beginning after the act's enactment date.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Murphy, Gregory F. [R-NC-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Taxes Real Estate Environment