05/04/2015
Last week, a joint committee of the House of Representatives and Senate in Hawaii approved S.B. 118, a bill calling for a study on the impact of REITs in the state and the potential effect of repealing the dividends paid deduction (DPD) for REITs. The original bill that would have repealed a REIT’s DPD in Hawaii was not approved.
The state legislature is expected to pass S.B. 118 this week.
The legislation includes a directive to the state’s Department of Business, Economic Development and Tourism and Department of Taxation to complete the study by the end of 2015.
(Contact: Dara Bernstein at dbernstein@nareit.com)