Hawaii Legislative Session Adjourned Again Following Brief Return

07/13/2020

The 2020 Hawaii legislative session adjourned on Friday, July 10, after being back in session for three weeks. SB 2697 SD1, which would have disallowed the dividend paid deduction for REITs, except for those that provide affordable housing in the state, ultimately did not pass and is dead for this session.

The measure was last acted on when it passed out of the House Committee on Economic Development and Business on Monday, June 22. The measure then moved on to House Finance, but was not scheduled for a hearing before the deadline to do so.

(Contact: Gladys Quinto Marrone at gmarrone@nareit.com)

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.