Federal HB1083 excludes gain from the sale of real property interests acquired under the REPI program from gross income.

Federal HB1083 amends the Internal Revenue Code to exclude from gross income any gain from the sale of qualified real property interests acquired under the Readiness and Environmental Protection Integration (REPI) program. This applies to sales made by partnerships where substantially all interests are held by an individual and their family members. The bill defines "qualified real property interest" and "qualified organization" and includes a special rule for mineral interests.

Federal HB1083 excludes gain from the sale of real property interests acquired under the REPI program from gross income.

Federal HB1083 amends the Internal Revenue Code to exclude from gross income any gain from the sale of qualified real property interests acquired under the Readiness and Environmental Protection Integration (REPI) program. This applies to sales made by partnerships where substantially all interests are held by an individual and their family members. The bill defines "qualified real property interest" and "qualified organization" and includes a special rule for mineral interests.