This bill proposes to amend the Internal Revenue Code of 1986 by creating a new section that excludes from gross income any gain derived from the sale of specific real property interests. This exclusion applies when such interests are sold to a qualified organization for purposes related to the Department of Defense's Readiness and Environmental Protection Integration (REPI) program , which aims to protect military readiness by preventing incompatible development near installations. The legislation defines a "qualified organization" as specified in existing tax law, generally referring to governmental units or certain charitable organizations. A qualified real property interest , for the purpose of this exclusion, includes the entire property, a remainder interest, or a perpetual restriction on its use, such as a conservation easement, with a special provision for mineral interests that do not involve surface mining. The bill includes a limitation for pass-through entities, preventing the exclusion if the property was acquired within three years of the REPI-related sale, though this limitation does not apply to family-owned pass-through entities. This measure seeks to encourage landowners to participate in the REPI program by removing the federal income tax burden on these specific property sales, thereby facilitating land conservation efforts around military installations.