URGING THE UNITED STATES CONGRESS TO PROVIDE OWNER-OCCUPANTS WITH COMPARABLY EQUIVALENT TAX DEDUCTIONS AFFORDED TO BUSINESS ENTITIES FOR EXPENSES RELATED TO PROPERTY OWNERSHIP.

This Hawaii Senate resolution (SCR 12) urges the U.S. Congress to change federal tax law so that homeowners (owner-occupants) can deduct the same property-related expenses as business property owners. Currently, businesses like real estate investment trusts (REITs) can deduct costs such as depreciation, property taxes, insurance, maintenance, and utilities, but homeowners are limited to deducting only mortgage interest. The resolution states this disparity creates an unfair tax disadvantage for Hawaii homeowners, hindering affordability as housing costs are a major barrier. It does not create new law but formally requests Congress to address this imbalance.