NAREIT Opposes Hawaii Legislation on REIT Dividends Paid Deduction

Legislation has been introduced in the Hawaii state legislature proposing to eliminate the REIT dividends paid deduction (DPD) “temporarily.”

Companion bills, H.B. 1012 and S.B. 1228, would eliminate the DPD for 15 years, except with respect to certain dividends attributable to affordable housing.

NAREIT will oppose the legislation, as it has done in past attempts to alter or eliminate the DPD in Hawaii. More information is available at The REIT Way Hawaii.

(Contact: Dara Bernstein at dberntstein@nareit.com)