SUBMIT TESTIMONY ASAP to SUPPORT SB 301 SD1 (REITs taxation bill). REITs (Real Estate Investment Trusts) do a significant amount of business in Hawaii: REITs own approximately $17 billion worth of Hawaii real estate and earn about $1 billion in profits every year. Because of a loophole in state income tax law, Hawaii loses an estimated $60 million in potential tax revenue every year. This money could be used to support a number of different things that would benefit Hawaii’s working families, like affordable housing and more.
It only takes a few minutes to submit testimony to the House Committee on Economic Development & Business using the form below: