08/12/2025
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President Trump signed H.R. 1, the budget reconciliation and tax bill known as the “One Big Beautiful Bill Act” (OBBBA), on July 4, 2025. The bill accelerated the phase-out of certain existing energy-related tax credits and limits tax credits for projects connected to “prohibited foreign entities.” Following the bill's passage, President Trump issued an Executive Order directing the Treasury Department to issue guidance related to the use of tax credits.
Nareit members can learn more here. Additional insights from Nareit Industry partners on the impact of the tax bill, including the energy-related tax credits, can be found here: EY, KPMG, and Goodwin.