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 Senate Resolution (SR 5) urges the U.S. Congress to change federal tax law so that homeowners (owner-occupants) can deduct the same property-related expenses as business entities - such as depreciation, maintenance, and insurance - currently available to real estate investors. It highlights that under current law, homeowners only deduct mortgage interest, while business owners (like REITs) deduct a broader range of costs, creating a financial disadvantage. The resolution, offered by Hawaii's legislature, does not change tax law itself but formally requests Congress to address this disparity. It specifically asks Congress to provide homeowners with "comparably equivalent" deductions for property ownership expenses. (Note: This is a symbolic resolution, not a bill with legislative effect.)