Key legislators
Who's moving property taxes in Hawaii
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bills
All housing bills
HB 2150 removes a specific tax deduction for real estate investment trusts (REITs). It disallows REITs from deducting dividends they pay to shareholders when calculating their taxable income. This change directly affects REITs by increasing their taxable income and potentially raising their tax burden. The bill creates a concrete policy shift in how REITs are taxed under state law.
Deems a county inclusionary mandate as a form of development exaction and treats the mandate as a housing affordability impact fee. Provides parameters for a county's adoption or amendment of an inclusionary mandate for residential or mixed-use development. Establishes additional components for a needs assessment study for a county-imposed inclusionary mandate. Conditions the adoption or amendment of a county inclusionary mandate for residential or mixed-use development on written findings of essential nexus and rough proportionality and a determination of financial feasibility. (CD1)