Incentivizing Readiness and Environmental Protection Integration Sales Act of 2024

This bill creates a tax exclusion for capital gains when property owners sell certain real estate interests to organizations participating in the Department of Defense's REPI program. It specifically excludes gains from sales of full ownership, remainder interests, or perpetual use restrictions on land, including mineral interests under limited conditions. The exclusion applies only to sales made for REPI purposes (administered under 10 U.S.C. § 2684a) and includes a 3-year ownership rule with family partnership exceptions. It directly affects property owners who sell land to support military readiness and environmental protection projects. The tax code change takes effect for taxable years after enactment.