Hawaii Governor David Ige Announces Intention to Veto Anti-REIT Bill

06/25/2019 | by

Hawaii Governor David Ige announced June 24 the legislative bills he is intending to veto. Included in that list was SB 301 , legislation which would disallow the REIT dividends paid deduction for four years for Hawaii income tax purposes. For more information, please see this Nareit Alert.

More information about REITs in Hawaii is available at www.theREITWayHawaii.com.

(Contact: Dara Bernstein at dbernstein@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.