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 The original bill that would have repealed a REIT’s DPD in Hawaii was not approved.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)

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